Before the construction of the dam (1950–1960) the settlement was just a mountain village in Eastern Carpathians where the main economic activity was timber harvesting.

Building the dam created also a horizontal industry: two cement and aggregate plants were built in Bicaz proper and nearby Tașca.

This, together with the construction of the Bicaz-Stejaru Hydroelectric Power Station (10 km (6.2 mi) to the east) triggered a relative economic boom during the communist period.

On the other hand, the Tașca cement plant was acquired by the German group HeidelbergCement and was completely overhauled.

The town served also as a port with scheduled ferry service with the villages on lake shore in the 1960s and 1970s.