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History Raynham was first settled in 1638 and was officially incorporated in 1725. It is named after Raynham, Norfolk, England. The town has a long history of industry including the manufacture of shoes, textiles and paper products. In 1884 it became home to the New Departure Company (later renamed General Motors), which manufactured ball bearings for car wheels; this plant closed in 1983 but reopened as an auto parts supplier several years later. Raynham also had a large shoe factory called "The Shoe" that operated into the 1970s. Today there are no major manufacturers within town limits although many residents commute to nearby Providence or Taunton where they work at places such as Hasbro Inc., CVS Corporation or Mass Mutual Financial Group among others. There is still some light manufacturing along Route 24 near Lake Sabbatia. The largest employer today is Raytheon Missile Systems with approximately 1,000 employees located on Old County Road .