Itasca has a strong history that has made it the great community that it is today. The town was filled with downtown merchants and shoppers throughout the years. For more information on the history of Itasca, check out the Itasca Railroad Depot Museum.

     Itasca was founded in 1881, immediately following the establishment of the railroad station. G. M. Dodge purchased 100 acres and put land on sale on October 10, 1881. The first building, a general store, was built by Will I. Hooks and James H. Griffin. Rev. J. W. Lackey was the pastor of the newly built Cumberland Presbyterian Church in 1884. The town paper, The Itasca Item, began in 1900. The first school, built by Robert E. Lee Masonic Lodge, opened in 1887. The Itasca Cotton Manufacturing Company began operation in 1901. Switzer Woman's College and Conservatory of Music opened in 1902. In 1937, Hill County Electric Cooperative was founded by Earl Farrow.

     The town had 6 dry good and clothing stores, 7 grocery stores, 4 hardware stores, 2 furniture stores, 3 drug stores, 2 lumber yards, 2 banks, 3 confectionary stores, 2 jewelry establishments, 1 racket store, 3 restaurants, 1 tinshop, 1 tailor shop, 1 harness shop, 1 photograph gallery, 2 millinery establishments, 1 newspaper, 3 real estate agencies, 1 refreshment stand, 2 meat markets, 2 hotels, 2 barber shops, 2 telephone exchanges, 2 livery stables, 1 resident dentist, and 3 cotton and grain buyers.