Hubbard traces its heritage to the historic Connecticut Western Reserve and is the living legacy of Nehemiah Hubbard Jr., a member of the Connecticut Land Company who purchased 15,274 acres and hired Samuel Tylee, Hubbard's first settler, as his land agent to measure and sell lots. Hubbard remained a quiet farming community until the coal-mining boom of the early 1860s changed its future forever. Immigrants from Europe flocked here to work in the mines, and the industrialization of this small town began in earnest. Prosperity continued until the decline of the region's steel industry in the 1970s and, later, the loss of several major businesses. Along with the new millennium, however, came the formation of the Joint Economic Development District between Hubbard City and Township, which brought much-needed development to the Interstate 80, State Route 7/U.S. 62 corridor.