The area was established in 1783, when 1,400 American Loyalists from the New York state region fled the Revolution and settled first in Treasure Cay at Carleton Point. From there, some moved on to nearby islands of New Plymouth, Green Turtle Cay, Hopetown, Man-O-War or settled south in Marsh Harbour. Early attempts at cotton farming failed, resulting in a population reduction to around 400 settlers. These pioneers developed the economy of the island with an expertise in wooden boatbuilding, a tradition that has been passed down to present day.