 Between 1959 and 1965, the town witnessed a swift economic growth with the foundation of the Artik Factory for Vacuum Stoves, the Tufa-Blocks Factory and the Artik branch of "Arshaluys" textile factory.Many other industrial firms were also opened during the 1970s.Following the dissolution of the Soviet Union in 1991, Artik became a town within the newly-formed Shirak Province as per the administrative reforms of 1995 of independent Armenia.