Originally known as the Paramount Theatre, the Paramount Arts Center is a listed site on the National Register of Historic Places as of 1975. The structure was built in 1931, and was one of the first transitional theatres that were built for talking pictures in the country. It was named Paramount Theatre because it was constructed to play films that were produced by Paramount Studios.

Sadly, when the Depression broke, Paramount stopped the project. Luckily, it was picked up late by an Ashland-based company. They continued the construction, but made the building three times smaller. It was shut down in 1971 and then acquired by a foundation that opened it as a performing arts center, thus calling it the Paramount Arts Center.

The Paramount Arts Center is now run as a home to a non-profit organization, and used as an entertainment venue. It holds plays, symphonies, ballet shows, and other productions on the site.