The community is primarily agricultural, surrounded by farmlands and known for its pastoral landscape. Like many settlements in Annapolis County, Centrelea has historical roots in the region's early European settlement, particularly loyalist and pre-loyalist farmers. Its name reflects its central location within a farming district. The area contributes to the Annapolis Valley's agricultural output, including apple orchards and other crops.
While a small community, Centrelea serves as a local hub for the surrounding rural residences, with residents often relying on larger nearby towns like Bridgetown for services and amenities.