By 1920, there were hundreds of mill towns across the region built for the production of textiles and other goods, such as shoes, machinery and other items.
However, the Northern textile industry would suffer greatly beginning in the early 1920s, with the failure of many of these companies, and the rise in competition from Southern mills.
Since the 1960s communities across the country have established Historic Districts and special by-laws in an attempt to preserve and prevent the destruction of properties deemed important to the context of history.
In 1971, the Brandywine River Museum of Art opened in Chadds Ford, Pennsylvania in a converted Civil War-era grist mill.
The legislation to create the park was sponsored by United States Senator and Lowell native Paul Tsongas.
The restoration gathered momentum in the 1980s, including the renovation of the canals and former mill facilities into museums, as well as the construction of a waterfront walkway.
Lawrence Heritage State Park, which occupies a former mill boardinghouse in the city's industrial canal district, is an excellent example.
Concurrent with the move to restore former industrial mills into residences, has been the conversion of certain sites into a mix of retail shops, offices and restaurants and other non-industrial uses.
During the 1980s, many of the historic cotton mills in Fall River, Massachusetts were converted into factory outlet stores, although with minimal physical alteration other than some partitions and carpeting.
One excellent example of a mill to mixed-use conversion in New England is the Clocktower Place, located in the small town of Maynard, Massachusetts.
Typically, the major criteria for this determination is a listing with the National Register of Historic Places, usually followed by a review by state and local agencies.
The development companies typically utilize the tax credits to offset the usually expensive process of renovation and site cleanup.
The site has since successfully been converted into residential apartments, situated on the Pawtuxet River with a walking trail and bike path nearby.
The intangible value of having a historic factory building preserved for future generations to enjoy, as well as the benefits to the community are often harder to calculate.