Warren Woodard, the first settler in Exeter Township, Fillmore County, built the first house in 1870. The Burlington and Missouri River Railroad, building westward, determined Exeter's location in 1871. The railroad laid out the town on land donated by Dr. Horace G. Smith and James Dolan. Former residents of Exeter, New Hampshire, suggested its name, which conformed to the Burlington's practice of naming towns along this line in alphabetical sequence. The railroad aided Exeter's growth by promoting immigration from eastern states and Europe, bringing Czechs, Germans, English, Irish, and Scandinavians to the area. By the time the town was incorporated on April 1, 1879, sixteen businesses were in operation. In 1896, Charles C. Smith, son of Dr. Smith, patented an indexing method to be used in bookkeeping. Smith built a factory in Exeter to produce these index tags, which were used worldwide. The factory operated for sixty-six years and employed seventy people at the height of its production.