The Virginia Company lost its charter in 1624 under King James I, and Virginia became a royal colony. Charles City Shire was formed in 1634 in the Virginia Colony by order of the King. Its name was changed to Charles City County in 1643. It is one of the five original shires in Virginia that are extant in essentially the same political entity (county) as they were originally formed in 1634. Colonists developed the land as tobacco plantations and produced this commodity crop for export.