Ocoee No. 1, with the other Ocoee dams, is an integral part of TVA's hydroelectric system. Together they produce more than 70,000 kilowatts of electric power.

The U.S. Forest Service operates campgrounds on Parksville Reservoir in the beautiful Cherokee National Forest, and visitors can also stay at a commercially run inn on the reservoir. A number of commercial outfitters supply equipment and organize whitewater rafting trips on the Ocoee River.

The Ocoee River was the whitewater venue for the 1996 Olympics and is one of the top ten whitewater rivers in the country. In 1993 TVA built a concrete and wooden model of a section of the river to guide U.S. Forest Service construction of the Olympic whitewater course. The 300-by-30-foot model is located near Ocoee No. 1 Dam.