Salina's economy remains strong because of our diverse economic base. In addition to our rich agricultural history, Salina is home to significant manufacturing plants, including: Philips Lighting, the largest manufacturer of fluorescent light bulbs in the world; Schwan's Global Supply, the city's largest employer and the worlds largest manufacturer of frozen pizza; Exide Technology, Great Plains Manufacturing, Raytheon Aircraft and numerous cabinet-making businesses.

Salina's location was a significant factor in the establishment of Camp Phillips Army Post and Smoky Hill Army Air Base in 1942. After World War II, the Army post was closed and Smoky Hill Army Air Base became Schilling Air Force Base. At one time, more than 40,000 people were associated with military installations in Salina. Schilling's closure in 1965 presented a considerable challenge to Salina. It also left valuable resources that included land, buildings and an airport with one of the country's longest runways. The community chose to build on the closure of the base and developed the Salina Airport Industrial Area. This area of 3,200 acres has become one of Salina's primary focus points for industrial development and is governed by the Salina Airport Authority. Almost 50 different businesses and industries are located there.

Recently, Salina was ranked 27th out of 219 cities in the United States to live in by the Rating Guide to Life in America's Small Cities. Included among many other attributes were low violent crime, availability of medical care and high per capita income.