[3] The area was first settled in 1784 by the United Empire Loyalists, primarily through land grants to the families of soldiers who had fought with His Majesty's Regiment of Queen's Rangers during the American Revolutionary War.

Previously known as Otis, the development of town began in the late 1960s and was built so those forced to relocate as a result of the Mactaquac Dam being constructed would have a place to reside.

Construction of the pulp mill, built to employ these displaced persons who lost their traditional farming opportunities that came with the dam, occurred between 1967 and 1970.

On 1 January 2023, Nackawic amalgamated with the village of Millville and parts of four local service districts to form the new incorporated rural community of Nackawic-Millville.

Additionally, the rise in use of digital cameras and resulting decline in the use of photographic paper had reduced the demand for St. Anne Nackawic's product.

The Government of New Brunswick later stepped in and, faced with an extremely difficult decision, created a new distribution model that would see the pension fund shared by all employees, including those in the under 55 group.

The loss of pension benefits and the perceived unfairness of distribution sparked an outcry for the provincial government to intervene.

Parsons and Whittemore later agreed to relinquish title to the plant and equipment, and at the same time shedding its officers and directors of their personal liability environmental – a rather serious matter that transcends all Bankruptcy law, allowing the provincial government to seek a buyer for the facility.

In addition to most of the local businesses in the Nackawic area, some of the creditors and companies affected by the closure of the mill included the Port of Saint John, Logistec Corporation, Wallenius Wilhelmsen, and Star Shipping.

In a surprise decision that left the legal community entirely baffled, the New Brunswick Court of Appeals later ruled that this was not a preferential payment, which would have been in serious contravention of the BIA (Bankruptcy and Insolvency Act).

A group of 19 contractors working on site when the mill was closed joined together and was successful in a number of significant wins in the Bankruptcy proceedings.

It was very unfortunate that those representing union and staff, as well as the appointed pension fund administrator did not see fit to join the group of 19 in helping fund the efforts of the new Trustee, for if they had the 5 million dollar pot would have likely grown substantially, benefiting all the unsecured creditors — the largest portion of which consisted of the displaced employees.

Once completed, the newly created ability to produce dissolving pulp -in addition to kraft pulp- will go a long way in helping to ensure the long-term viability of this vital area business.