Aasiaat is a service town with a number of different businesses. With the establishment of the hospital in 1916, the continuation school in 1928 and the girls' school in 1932, the town of Aasiaat began to really look like a town. Throughout the 1930s cod fishing developed into the most significant business. The impression of a modern town was first established, however, around 1950, when a number of new service institutions such as a power plant, a telecommunications station, a weather station, a children's home and so on were set up. The first actual industry - boat building - and the cold store were founded. Work also began on the first "proper" road for vehicles.
In the 1960s the town entered a phase of more relaxed development, even though there was something new practically every year. The first housing block went up, a heliport appeared, then a larger village hall, a new church, a telephone exchange and a self-service supermarket.
This expansion of the town's facilities continued in the 1970s and 1980s, particularly housing estates in residential areas in the eastern part of the town.
In 1987 Aasiaat gained a modern fish factory, which did much for employment in the town. The fishing fleet, which unfortunately has a falling catch quota, is today being modernised in order to optimise the supply of raw materials to the food processing plant. Today the main employment is processing of crabs and prawns. Thanks to the large local prawns and crabs, the inhabitants are assured of lasting employment. The town's trade and industry is under constant development. The founding of a new factory has already proved that Aasiaat can attract other new commercial enterprises.