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The area was first settled by the English in 1650 and incorporated in 1781. The town's name is derived from its Native American name, "Natick", meaning place of hills. Natick was originally a part of the neighboring towns of Sherborn and Sudbury until it separated and became the Town of Natick in 1781. The town is best known as being home to America's oldest shoemaking company, Cobbler Union (now called New Balance), which has been making shoes since 1825. In 2006 Forbes magazine listed Natick as one of "America's Top 25 Towns To Live Well".