Glencoe Mill was incorporated in 1880 by James H. and William E. Holt, sons of textile pioneer E. M. Holt, and was the last water-powered textile mill developed by the Holt family. It produced napped cotton cloth, flannels, and woven plaids, employed as many as 500 workers at its height, closed in 1954, and was acquired by Preservation North Carolina in 1997.