[4][5] Bø's economy was mainly based on agriculture, forestry, tourism, education, and public administration.

Several times in modern literature Bø had been called "the most beautiful place on earth", such as in Bjørnstjerne Bjørnson's story En glad Gut (A Happy Boy).

The historic parish of Bø was established as a municipality on 1 January 1838 (see formannskapsdistrikt law).

On 1 January 1866, an unpopulated area of Bø was transferred to the neighboring Hollen Municipality.

On 1 July 1914, an area of neighboring Sauherad Municipality (population: 27) was transferred to Bø.

The coat of arms was granted on 19 February 1988 and it was in use until 1 January 2020 when Bø became part of Midt-Telemark Municipality.

The official blazon is "Gules, three fiddles Or" (Norwegian: På raud grunn tre gull feler, 2-1).

The charge has a tincture of Or which means it is commonly colored yellow, but if it is made out of metal, then gold is used.

Bø is historically known for its musical tradition, as well as the production of fiddles (similar to the hardingfele).

The municipal council (Kommunestyre) of Bø was made up of 25 representatives that were elected to four year terms.

The club won the award for "Concert promoter of the Year 2005" and is based on voluntary work from students of the Telemark University College.