Deepwater is a very small town encounted when traveling the New England Hgy between Glen Innes and Tenterfield. Deepwater services a quite rich rural base, but as time goes by, has relinquished most services to Glen Innes. Deepwater owes its beginning and existence to the metal silica. The visitor will find the town a little quirky, but this is deliberate.
The Deepwater Run (the reason for the town’s name) was occupied in 1839 by William Cooins for the Windeyer brothers. In 1848 their run covered 60,000 acres (240 km2). The railway station was opened in 1886. The Deepwater Public School was established 1894. Some of the old buildings still in existence are the Deepwater Inn, court house, post office,old bank school of arts and the Deepwater Public School.
Deepwater now has an Apex Park, antique store, bakery, school, two hotels (now one), roadhouse and general shopping facilities. An annual race meeting is held on the racecourse that is located there. It also has service organisations that include the Country Women's Association, Red Cross, Far West and Apex Club, SES and Rural Fire Service, pre-school and some other community organisations.
The district is an agricultural area with the main pursuits being wool, fat lamb and beef cattle production. In the past dairying, tin mining and timber were industries that contributed to the economy of the district.