Coal, once a staple of Bridgeport's economy, was discovered here in the later part of the 19th century when diggers seeking water hit a vein 60 feet deep. Mine No. 1 lies under northeast Bridgeport, and the entire area is honeycombed with tunnels and shafts. Wise County Coal Company was chartered on August 23, 1882, by C. D. Cates, J. C. Carpenter, J. G. Halsell, J. J. Lang, H. Greathouse, and D. Waggoner. The firm was bought in 1900 by Colonel William H. Aston of Virginia, renamed Bridgeport Coal Company, and at its peak had 500 employees. The mines closed in 1929 due to increased use of oil and gas.