Incorporated in 1873, Wallace prospered alongside the old Atlantic Coastline Railroad.A heritage of commerce continues today as Wallace utilizes its prime location alongside I-40, only 30 miles NW of Wilmington, to attract and retain thriving businesses. Sitting in the heart of coastal N.C., Wallace is the largest Duplin County town, serving as a retail and commercial hub for over 50,000 people in a three county area.

The heritage of Wallace is well established and the community takes great pride in helping to preserve and restore the past. The most recent example of this is the restoration of the train depot.

The restored depot will become home to the Chamber of Commerce, an Art Guild for local artists to display their work, a railroad museum and an open air farmers market.
The town of Wallace was first known as Duplin Crossroads and was incorporated into existence in 1873. Later in 1899, the town fathers decided to adopt the new name, Wallace, to honor Stephen D. Wallace, an official of the Atlantic Coast Line Railroad. 

Wallace is Duplin County's largest population and retail trade center serving over 50,000 people in a surrounding three county area. The population of Wallace in 2003 was 3,384 people.

Wallace is proud of their progressive nature which has helped to bring Interstate 40, improved highways and roads as well as an Industrial Park for future business growth. Wallace is also in the process of upgrading their sewage plant capabilities and is home to a city-run library, recreation department, airport and two private 18-hole golf courses.