Pace is named after James G. Pace, who owned large lumber, paper, and turpentine productions that operated in the Pace area and throughout the Southeast . Originally just a strip of land north of Floridatown and west of Pea Ridge, by the 1912 census the area was known as Pace. Afterwards, the Pace's growth was slow and it remained a small, rural community throughout the last half of the twentieth century. Despite local efforts, incorporation failed at least once and has not been re-attempted recently. Within the last decade, however, growth has increased and Pace has become more suburban, surpassing its predecessors Floridatown and Pea Ridge in population, commercial activity, and notoriety.