The last great Victorian gold rush occurred here in the 1860's, bringing prosperity and a burgeoning new life to a rural community, clearing the land of mallee scrub and producing wool for the young colony and for export to England.

A few miners' tents rapidly became a tent town of thousands. In the third year of its existence Inglewood became a municipality, the Borough of Inglewood.  Such was the wealth taken from the earth and rock that the tent town became a community of substance, buildings of timber and brick; imposing structures, several of which stand today and date from the mid-late nineteenth century.

The gold was eventually extracted to economic limits and the miners departed.  A new, though less profitable industry helped the town survive: eucalyptus oil, first recognised for its wide ranging qualities from the earliest years of colonial occupation, was produced in quantity in the district. The Blue Mallee, locally known as 'Blue Eucy ', which produced an oil of exceptional quality, grows in abundance in the area.

As with gold, time brought changes which saw a marked reduction in Eucalyptus oil production in Victoria.    Over the years however, gold mining has continued at the Maxwell  mine at various times and gold prospecting continues to be a popular pass time for locals and visitors.