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Cow Head has been known to be a central location to very rich fishing grounds, as well as being in the shipping and trading lanes since the 1800's.  Fishermen traded with the English trading company "Bird and Company" and Nova Scotia traders.  In the beginning, the main fisheries included herring, cod, and salmon with the lobster fishery being added around 1887.  In 1939, the start of the Co-op Movement was seen in Cow Head.  This co-op and it's successors succeeded until the late 1960's. 

The drilling of Newfoundland's first oil wells in the nearby community of Parsons Pond in 1867, also meant employment for residents of Cow Head. Local residents were able to gain employment until 1908.

In the 1920's, the beginning of the logging industry was significant to Cow Head.  Between three and six sawmills in the area were able to provide local lumber as well as pulpwood to the Bowater's Company in Corner Brook.  This added industry helped see the population grow from 231 in 1921 to 448 in 1956.  

In the 1970's, with the development of Gros Morne National Park, Cow Head became an enclave community in the park as well as designated a semi-growth area for the park. This has meant a growth in the tourist industry in the area, as well as a new source of employment for local residents.  The tourism industry has become a mainstay of the area and continues to grow annually.  

Cow Head was an early Anglican Mission.  The first school was established in Cow Head in 1884 with an initial  enrollment of 32.  In 1962 a new central high school was built, and in 1981, 112 students attended elementary school and 180 students attended high school in Cow Head.  

A lighthouse was built in Cow Head in 1909 and modified in 1960.

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