Begun in 1824, Old Economy Village was the third and final community built under the direction of George Rapp, leader of the Harmonist Society - a significant German separatist group which sought refuge in the United States in the 18th and 19th centuries. Old Economy's buildings have long been the focus of preservation efforts, undergoing a scope of restoration comparable to Historic Williamsburg between the 1930s and 1960s.

The core of the original village is recognized as a National Historic Landmark, both for its unique architectural treasures its half-timbered Feast Hall and Granary and for its association with the Harmonist Society.  The Harmonists were a celibate group with a philosophy and religious structure similar to the Shakers, who contributed significantly to the early development of Western Pennsylvania.