The Akola MIDC Industrial Area has three prominent industrial zones on the outskirts of the city.Cotton and Jowar are the predominant crops grown in the district. Oil and Dal mills are also rampant. The economy is mostly agriculture based. Nowadays, soyabean crop is an important crop as major soyabean plants have come up in the area. The total land under Akola MIDC Industrial area is 6.25 km. There are about 25 factories (3 large factories and 22 small factories) currently in production and another 10 small factories are in the process of being constructed. Maharashtra Government has sanctioned growth centres close to Akola MIDC area. An application of the Maharashtra Industrial Development Corporation (MIDC) for setting up an Agro- processingSpecial Economic Zone (SEZ) in Akola district has been approved. Maharashtra State Seeds corporation (Mahabeej) has headoffice at Akola
Banking and financial services
In the 2000s (decade), Akola has seen a spurt in financial activities, with almost all public sector and private banks have opened up branches including the State Bank of India, State Bank of Hyderabad, Axis Bank, Akola Urban Co-op Bank, Vidarbha Co-Operative Bank, Akola, Canara Bank, Saraswat Bank, Citi Bank, ICICI Bank, Bank of India, HDFC Bank, IDBI Bank, Bank of Maharashtra, Bank of Baroda, Oriental Bank of Commerce, Allahabad Bank etc
