Ingomar is a trade center for the surrounding sheep raising area. Ingomar has several of its original historic buildings still intact. The original frame school building, the Jersey Lilly Bar and Cafe,internationally known for its beans and steaks and the Bookman Store were all placed on the National Registry of Historic Buildings. Area residents banded together to construct a rodeo arena, which has become the home of the Ingomar Open Rodeo. The rodeo is held each July and is open to all cowboys.