[1] Roman Catholic missionaries first visited the area in the early to mid 1600s attempting to Christianize the indigenous people, particularly the Neutral Nation on the Attiwandaronk Lands.

It was laid out by Lewis Burwell, deputy provincial land surveyor, late in 1832, and the following year Gilkison established a sawmill and a general store.

Elora was founded in 1832 by Captain William Gilkison, originally from Scotland, who was a British officer recently returned from India.

[6] The Smith's Canadian Gazetteer of 1846 describes Elora as having a beautiful waterfalls and a deep channel carved by the river in the limestone rock.

[4] While there were some earlier private providers of electricity on a small scale, more extensive provision of power, by Ontario Hydropower, began in 1914.

Plans were submitted to convert the building to condominiums and a hotel,[10] and in 2017 a report stated "Elora Mill Inn and Spa, a $120 million project expected to bring a world class resort and 250 jobs to the area when it opens in Spring 2018.

[11] Following a $27 million renovation, the Elora Mill Hotel and Spa, owned by Pearle Hospitality, opened in July 2018, employing 170 people and featuring 30 rooms and a restaurant.

[14] In 2002 the Township of Centre Wellington announced that, for safety reasons, it would be necessary to demolish the historically important David Street Bridge over Irvine Creek.

[22] The scope of the Victoria St. project was described as:[23]Construction of the bridge deck concrete topping and side curbs, masonry pilasters, steel framing and arched masonry stone side skirts along the bridge, steel railings, electrical, lighting and the finished piazza concrete slab, retaining wall, storm sewer extension and planting beds.A report in April 2020 indicated that benefits included "wider traffic lanes and sidewalks, two new bike lanes, an expanded observation deck, enhanced lighting, limestone gateway piers".

The sixty bed house for "inmates" was surrounded by a 30-acre "industrial" farm with a barn for livestock that produced some of the food for the 70 residents and the staff and also provided work for them.

[26][27][28] A historic plaque was erected at the museum, indicating that the "government-supported poorhouse" was "the shelter of last resort for the homeless and destitute, who traded spartan accommodations for domestic or agricultural labour".

[29] In 2000 a proposal was made to bring a standardbred horse racing track with slot machines to Elora, by creating the Grand River Raceway.

The Centre Wellington Citizens Coalition was formed in opposition to the race track, primarily because of the inclusion of gambling facilities.

[31] A plan for substantial expansion, approved by Township Council in February 2017, will include gaming tables (up to 52) and many additional slot machines (up to 1,200 in total).

The rationale for the majority decision was the revenue benefit; since the slots opened, the Township has received over $22 million from the currently small operation.

[32] Many tourists visit Elora on day trips, attracted by the historic nature of the town or the Grand River Raceway with horse racing and slot machines.

[37] This two-storey Italianate-style stone building was the oldest known state-supported poorhouse or almshouse in Canada, called the House of Industry and Refuge when it opened in 1877.

Centre Wellington is heavily agricultural but is also the home to industries, manufacturers, retailers, health care services and trades people.

[44] Data is not available for Elora alone but at the time of the 2011 Census, 6.4% of the workforce of Centre Wellington was involved in agriculture and other resource-based industries/utilities, 24.8% in manufacturing and construction, 19.8% in health and education and 13.2% in wholesale and retail trade.

The major employers in the township include Jefferson Elora Corp., Nexans Canada, Polycorp Ltd., Groves Memorial Hospital, Wellington Terrace and PR Donnelly.

Centre Wellington encourages the filming of movies and TV shows; quite a few productions have taken advantage of the historic look of Fergus, and especially Elora, for location work.

[45] In 2016, parts of the 10-part miniseries, Canada: The Story of Us, were filmed in Elora which was a stand-in for scenes of WW II skirmishes in Holland and France.

[48] Parts of the Grand River in both Elora and Fergus were the site for some of the scenes filmed for the 1994 movie Trapped in Paradise.