Formerly a large company town[1] owned by Crown Zellerbach, it is accessible only via boat or seaplane, and is home for a few dozen full-time residents, with the seasonal population upwards of 100.

[2][3] Situated around a waterfall from Link Lake straight into Cousins Inlet, it has considerable energy resources that are largely untapped.

In 1903, the Bella Coola Pulp and Paper Company surveyed the area and was impressed with the hydro power potential of the site.

In 1906, following the company's acquisition of 260 acres (1.1 km2) of land, clearing began for the town and three years later, a sawmill, hospital and school were established.

The Ocean Falls pulp and paper mill was a very large and complex production facility and modernization costs were prohibitive.

The owner at that time, Crown Zellerbach, decided to close the plant and effectively shut down the town by March 1973.

The school was closed for only three days; several teachers went to Bella Bella to obtain school desks and classes were held throughout the community, from the community centre to the Royal Canadian Legion branch pub (grade 12 students) to part of the Martin Inn, a 600-bed hotel.

The rental cost of accommodation was also quite reasonable permitting the residents of Ocean Falls to live rather inexpensively.

The Ocean Falls Court House, the Legion Hall, the Royal Canadian Mounted Police building and the Post office are also in the harbour area.

The only cruise ship that ever called at Ocean Falls was Holland America's SS Rotterdam on May 18, 1997.

[3] On October 6, 2019, the 400-passenger MV Seabourn Sojourn cruised off Oceans Falls in an unexpected visit when its planned day in Klemtu, British Columbia, was cancelled due to weather, but no-one went ashore.