The name derives from the Old Norse Laxa meaning Salmon River. In the 19th century lead and zinc mining began and became
the largest industry in the village, but ended in 1929, but the Manx Electric Railway had been built through
the village in the late 1800s opening it up to tourists. The Snaefell Mountain Railway leaves from the same
area as the MER passes through on its way from Douglas to Ramsey.
The nearby Laxey Wheel is the largest
working waterwheel in the world. As a bonus for historians, this town is also the location of King Orry's Grave.
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