Fort Patrick Henry is named after the colonial fort, also known as Long Island Station, that was established nearby at the site of present-day Kingsport, Tennessee. The dam was built primarily for hydropower, but it is also used to regulate the flow of water downstream to ensure a reliable supply of water for local industry and for cooling water at TVA's John Sevier Fossil Plant.

Fort Patrick Henry Reservoir is a popular site for fishing, particularly rainbow trout, bluegill, bass, and crappie. Warrior's Path State Park is located on the reservoir.