Thousands of Irish and French Canadian immigrants used the Old Canada Road (now a scenic byway) section of U.S. Route 201 during the 19th century to find seasonal or project employment, and later made the Kennebec River Valley region their home. Early Winslow settlers used water power for industrial development. Modern Winslow developed around the Hollingsworth & Whitney Company paper mill, located along the Kennebec River. The mill was later purchased by the Scott Paper Company, whose 1995 merger with Kimberly-Clark led to the factory's closure in 1997. Winslow's industrial decline started in the 1980s, although some small light industry still exists, and new businesses continue to move into the town. Despite this, the service sector remains limited. Today, Winslow is a bedroom community for some middle- and upper-middle-class families who work in nearby Waterville and Augusta.