The Chagrin River was named for Francois Seguin, a Frenchman who traded with Native Americans in Northeast Ohio circa 1742. The river's "High Falls" attracted settlers from New England circa 1833 who sought a location with ample waterpower. By the mid-nineteenth century, an axe factory, a foundry, 2 flour mills, 4 woolen mills, 2 sawmills, 3 paper mills, and a woodenware factory had been built along the riverbanks in Chagrin Falls. The "High Falls" also provided power for a gristmill built at this location in 1836. Today, only one factory remains in operation in the Village of Chagrin Falls.