Millstone Park takes its name from a granite millstone that rests atop the plaza, one of only three known remaining millstones from Webb's Mill, a grist mill that operated on nearby Steele Creek from the 1770s to 1880s. Webb's Mill inspired the "mill" in Fort Mill's name and played a critical role in the development of the Fort Mill community. For more than a century, local farmers used the water-powered mill to grind corn and wheat into products such as meal and flour, and it also served as an important social center for early residents of eastern York County. The community was first called "Little York," then "Fort Hill," and in 1833 the name "Fort Mill" was adopted, with "Mill" reflecting the grist mill's importance to local residents.