With a population of approximately 3500 people, this small town is doing big business with companies looking to invest in industries as diverse as wind energy, high tech, manufacturing and agriculture. Pincher Creek is open to new development and welcomes investment. Pincher Creek received its name in 1874 when a group of prospectors lost a pincer (similar to a pair of pliers) in the small creek at this location and an officer from the North-West Mounted Police later discovered the rusting tool. Before modern day settlements, this region was home to the Blackfoot, Peigan and Kootenai Aboriginal Tribes. Today, the Piikani Nation (formerly the Peigan Nation) the is headquarters in Brocket, Alberta just outside of Pincher Creek. The Piikani Nation controls two parcels of land, Peigan Timber Limit "B" and the Piikani 147 Indian reserve (on which Brocket is located). As of 2014 the band had a registered population of 3,638 members, of whom 2,358 lived on Piikani Nation reserves, and actively contributes to the regional economy.