In 1841 a dam was constructed at Cleveland St. which provided power for a flour, then woolen and finally, a paper mill that failed. Alfred and Fitch Adams, along with a Mr. Jewett, purchased the property in 1858. They produced paper from manila rope using the power of three water wheels.
There was serious flooding and a fatality with the drowning of Fitch Adams who was inspecting the dam for damage. In 1899 the name was changed to the Adams Bag Co. Owners Henry and Luther Adams reorganized and expanded the company so that it became one of the most successful paper manufacturers in the country. The company was a major employer in the village.
In 1925 the Adams Bag Co. became a unit of the Chase Bag Co. and continued operations until 1990, when it was sold to IVEX Co. It ceased production in 2004. The buildings have been removed and only the foundations and smoke stack remain.