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In addition to some light industry located along U.S. 98 corridor, Lorida and the surrounding area contains numerous fish camps and lodges on the north and east shore of Lake Istokpoga.
Lorida was first named Istokpoga, a Seminole name, but it was afterwards changed because the U.S. postal authorities refused to accept that name, there being another post office in the state with a similar name. It was then named after an abbreviated form of Florida. Lorida, Florida has been noted for its unusual place name.
A post office was established under the name Istokpoga in 1924, and the name was changed to Lorida in 1937.
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