[3] The town is best known for being the home of the Loring Commerce Centre (formerly Loring Air Force Base; also lying on its former territory is the Aroostook National Wildlife Refuge) and Maine School of Science and Mathematics (MSSM), which in 2019 ranked #2 in the United States by U.S. News & World Report.

[5][6] Trafton, his son, and an associate co-founded the Limestone Mill Company three years earlier in 1846.

[12] The Wall Street Journal reported in 2024 that since the closure of Loring AFB, Limestone was forced to make cutbacks to public services.

Its police department closed in 2023, and there had been near-annual turnover of town managers since the mid-2010s.

32.5% of all households were made up of individuals, and 12.6% had someone living alone who was 65 years of age or older.

30.7% of all households were made up of individuals, and 11.9% had someone living alone who was 65 years of age or older.

The base closed in 1994, after which it became known as the site of three large festivals by the Vermont jam band Phish.

[21] Tens of thousands of Phish fans poured into the site to temporarily make Limestone the most populous town in Maine during individual weekends of the summers of 1997 (The Great Went), 1998 (Lemonwheel) and 2003 (It).

[21] It is now the Loring Commerce Centre, one of Maine's largest industrial parks.

The town is also home to the Maine School of Science and Mathematics, a residential magnet high school specializing in math and science education, once ranked #2 in the United States.