Construction of the Dam started just before World War II. Work slowed and eventually became to a complete stop for 3 years in August of 1943. Complete closure of the dam was completed in December of 1950. In the spring of 1951 a large flood struck South Central Kentucky and the new dam saved the community from much loss.

On August 20, 1952 the final of 6 generators were installed. During the fiscal year of 1953 over 650 million kilowatt hours of hydroelectric power was generated. At the end of the fiscal year 1995 the dam had produced 39,646,420,200 kilowatt hours of electrical power valued at a whopping 196,745,074 dollars. Tourism in 1995 added more than 60 million dollars to the local economy. The dam is considered one of Russell County's most valuable assests.

Lake Cumberland was created with the completion of Wolfe Creek Dam in 1951. Lake Cumberland has proved to be a huge advantage to the county. Over 60 million dollars was earned in the county due to tourism alone each year. The main lake is 101 miles long and over one mile across at its widest point with 1255 miles of shoreline. The main creek arms are 10 to 15 miles long with numerous secondary and tertiary arms. The lake provides a total storage capacity of 6,089,000 acre-feet (1 acre-foot = 1 acre 1 foot deep or 325,850 gallons).
When the lake was first filled many people in the community did not approve of it. There were many communities that were going to be put under water. Some of the communities lost would be that of Long Bottom, Lula, Horse Shoe Bottom, and Stokes. Long Bottom was the first community to have to leave their homes, churches, and schools. Shortly following the other communities evacuated.

Horseshoe Bottom was where the Jamestown Marina now is, Rowena was on the lake side of what now is the entrance of the state park. The Rowena Holiness Church is the only thing still holding the Rowena name.

Lake Cumberland is considered the United States´ number 1 houseboating destination. Along with house boating comes skiing, jet skiing, tubing, fishing, and leisure boating. The lake is famous for its Striped Bass fishing. Many of the Lake Cumberland guides believe the lake holds the next world record striper with 40 pounders being caught on a regular basis and sometimes 50 pounders, including the state record 58 pound Striped Bass. Along with Striper fishing there is also many other varieties of bass including large mouth with even crappie, bluegill, catfish, walleye and more.