The area has had several names, and prior to the settlement of the town, the location had been home to a combined general store and post office, owned by W.H.

[7] The town was later renamed after Henry Flagler, railroad builder and oil man, at the request of his daughter who liked the area.

The economy of Flagler and the surrounding area is composed largely of agriculture, specifically wheat and corn production.

Flagler is also the self-proclaimed "Birdseed Capital of World," with a Wagner's Wild Bird Seed plant listed as the town's top private employer.

Flagler is home to a Loaf 'N Jug convenience store, The Witt's Family (clothing and shoe) Store, Stone Communications (previously Lyle's TV & Radio), a small hotel, a small movie house, a local supermarket, The I-70 (1950's) Diner, and numerous churches.

The Flagler area is also home to the Mullen pedal steel guitar factory on County Road MM, about 30 miles N.E.

The school's mascot is the panther, and students compete in sports such as Six-man football, volleyball, basketball, baseball, and track.

A Timm N2T Tutor performing for Fall Festival Day lost control and impacted the show's spectators, killing twenty people.