Much of the employment is provided by a number of industries and by educational institutions, including primary and secondary schools, a community college and a private university.

Some sources state that the name means "cow" or "buffalo" in an unspecified Native American language.

In 1988, the area around Waxahachie was chosen as the site for the Superconducting Super Collider, which was to be the world's largest and most energetic particle accelerator, with a planned ring circumference of 54.1 miles (87.1 km).

Owens Corning, Georgia-Pacific, International Paper, James Hardie Industries, Berry Global, Americase, Cardinal Glass, Magnablend, and Dart Container are located within a few miles of each other.

Nonindustrial employers include Baylor Scott & White Health, Waxahachie Independent School District, Walgreens Distribution Center, Walmart, H-E-B, Navarro College, and Nelson University.

[25] Bethlehem Revisited, a re-enactment of the birth of Jesus, occurs behind Central Presbyterian Church in early December.

[27] The town also features many examples of Victorian architecture and Gingerbread-style homes, several of which have been converted into bed and breakfast inns.

[29] The city of Waxahachie is a voluntary member of the North Central Texas Council of Governments association, the purpose of which is to coordinate individual and collective local governments and facilitate regional solutions, eliminate unnecessary duplication, and enable joint decisions.

The Texas Department of Criminal Justice operates the Waxahachie District Parole Office in Sherman.

Waxahachie High School, classified as 6A, offers a range of extracurricular activities to its students, including football, volleyball, men's and women's basketball, men's and women's soccer, baseball, softball, golf, tennis, concert and marching band, drama, choir, drill team, and dozens of academic teams and clubs.

[citation needed] Two postsecondary educational institutions have campuses in the city of Waxahachie: Navarro College, a community college based in Corsicana, Texas, and Nelson University, a private, four-year university affiliated with the Assemblies of God, which offers accredited undergraduate and graduate degrees.

[40] Additionally, the long-running television series Walker, Texas Ranger, starring Chuck Norris, was filmed in Waxahachie on occasion.

[54] In 2018, an animated short film from Crypt TV titled Dark Vessel featured the town as its 1977-based setting.

[55] In 2021, Miranda Lambert, Jon Randall and Jack Ingram released a song named for the city on their acoustic album The Marfa Tapes.