At the beginning of the 20th century a tinsmith produced a tin carriage for his children. This act of affection would transform the mountain town of Ibi into a leading National Centre for Toys. The toy industry has completely changed the history, demography and the structure of the town. Ibi has grown and become industrialized thanks to the toy industry and is today the largest toy manufacturing centre in the country - its 37 companies account for 40% of the national production.

However, well before this time, in the XVII century, the inhabitants of Ibi were involved in the 'cold' industry as they used to sell the ice they had collected in the surrounding mountains. Together with the nearby Xixona they became pioneers of the ice trade. Though it has restored its old town centre, Ibi is defined by its industrial activity.

Ibi has a monument to the Three Kings, a Museum of Toys, a Technological Institute for Toys and a working schedule that starts in May and ends with the Three Kings festivities.