Richard Gwyn, the founding father of Elkin, built a grist mill in the early 1840s, added a cotton mill in 1847, and formed the Elkin Manufacturing Company. The mill produced cotton sheeting and yard goods. R.W. Foard purchased it in 1866 and continued cotton production until after 1903. The site is now the Elkin Public Library, and portions of the original rock walls are still visible north of the library.