Alma is a part of the southern region of New York known for its rich natural resources, such as oil fields which produced oil until well into the 1980s, and its pristine rivers and hills. Major attractions include the historical Mather Homestead Museum in the adjacent town of Wellesville, and several wineries that offer tours. Its history is strongly tied to its many railroads, now mostly unused, and originally built as a support system for its booming oil industry. Local businesses include Champion Rent-to-Own and Independent Welding Services, LLC. Alma Hill Road, which traverses a hill in Alma, is the highest point above sea level in all of western New York State. The town has a population of 820 with a median age of 38.1, which is several years older than the median age of the state, 35.9, so the population of Alma skews slightly older than the rest of New York. It is located within Allegany County.