Known as the Queen City, its population has been growing steadily over the years, attracting many different people and businesses.
From the water to the hills, and everything in between, there's a lot to do in spearfish.
"We have the Black Hills right in our back door. We have all of that great outdoor recreation," said Melissa Barth Executive Director of the Spearfish Chamber of Commerce.
Besides attracting those who like the outdoors, Barth says the town also draws in businesses.
"Oh, we've definitely seen an increase in business activity in Spearfish. Last year alone we probably had 15 to 20 new businesses open," said Barth.
One new store that popped up in November on main street is Hudson and Main.
"So I think it's been really good and we've gotten a really good response from the public," said Elizabeth Stevens.
Stevens is from Spearfish and works at Hudson and Main. She likes how the town has changed over the years.
"I think it's just gotten better. I think they put more money into the town. The streets are nicer. There's better shops," said Stevens.
More people are settling down in Spearfish. Residential building permits were up 105 percent last year. And total employment was up 10 percent with 600 new jobs created. People with strong ties to the community like the change.
"Being a fifth generation Spearfish native, it's been great to see the evolution of tourism and the economy in general in Spearfish," said Mistie Caldwell, Executive Director of Visit Spearfish.
Even though businesses, new residents and tourists crowd the town, Stevens feels some may not know what spearfish is really like.
"Spearfish is the nicest town I think in the entire state of South Dakota and I don't think people realize that. I think they kind of think it's a little town, a little farm town, and it's not," said Stevens.
But it's a town where the people are friendly.
"The people are also what makes Spearfish," said Caldwell.
"I have three children and I feel great raising them here. Not being native here I really do appreciate everything Spearfish has to offer," said Barth.
An offer that more and more people are appreciating. Barth says Spearfish Public Schools had about eighty new students this year. About half of them can be attributed to the North Dakota oil boom.