The body of Drew Jordan was found in the quarry he owned in Eskra, near Omagh, on Thursday evening.
The death of the father-of three, who was in his 50s, is being investigated by the Health and Safety Executive for Northern Ireland (HSENI).
The police have confirmed his death is not being treated as suspicious.  His funeral is to be held on Sunday.
The Reverend Noel Regan, a local clergyman who knows the family, told the Ulster Herald: "There is widespread shock and grief at this tragic accident."
He said Mr Jordan was very well regarded in the area.
A spokesperson for the HSENI said the organisation had been "made aware of a fatality at a quarry in Omagh and is investigating".
"Our thoughts are with the family at this most difficult time," they added.

He was named man of the match against Treviso last Friday, was best man at brother Darren's wedding the following day and turned 22 on Monday.
"I'm thankful to my big brother, Darren, for getting me into rugby," said Hoyland, who signed until 2018.
"He was there to push me to where I wanted to be because he had faith in me to go far."
Edinburgh-born Hoyland, who previously played for Boroughmuir and Melrose, becomes the third player this week to commit to the Pro12 club after new deals for hooker Stuart McInally and centre Chris Dean.
"Since joining the club in 2014, I haven't wanted to go anywhere else," he said.
"You can see how much the club's developed over the last couple of years.
"We're definitely heading in the right direction and it's not a place you'd want to leave when we're achieving all this good stuff."
Hoyland, who scored two tries in the win over Treviso, represented Scotland at youth level and won his first and only senior cap in August against Italy.
"I'm obviously delighted with the one Scotland cap I've got, but I do want to push on for more by playing well for Edinburgh," said the winger who starts against Agen in the European Challenge Cup on Friday.
Head coach Alan Solomons was delighted that Hoyland had committed himself to the club.
"As a talented young Scottish player, he epitomises our vision for Edinburgh," he said.
The death of a man at a quarry in County Tyrone has been described as a "tragic accident".
[NEXT_CONCEPT]
Winger Damien Hoyland has completed a hectic but happy week by signing a contract extension with Edinburgh.