Downtown Perryville Advancement began in 2012 as a committee of the Perry County Economic Development Authority, called Downtown Perryville Revitalization. At the time, the goal was to create a committee of stakeholders invested in the downtown area and focus on revitalizing the town square. This focus and collaboration between businesses, building owners, and local government led to the magic that is downtown Perryville today. Today, all buildings on the square are occupied, an annual calendar of events are published with each event being led by local volunteers, and thousands of visitors flock to downtown to dine, shop, and play. The success of this 100% volunteer committee led to the formation of an official 501(c)3 organization in December 2022 called Downtown Perryville Advancement, Inc.

The Perry County Economic Development Authority serves as the administrative liaison to Downtown Perryville Advancement, Inc.