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In 1843, after finishing his second term as Mayor, Raymond and Dexter built the first woolen factory in Illinois, in Elgin, Illinois. Raymond also served as the president of the Fox River Railroad, which connected Elgin to Lake Geneva, Wisconsin. In the 1950s, he was instrumental in securing the charter for Lake Forest University and building the city of Lake Forest, Illinois.
In 1864, approached by J.C. Adams of the Waltham Watch Company, Raymond agreed to put up the money to start a watch company in the Midwest. The men elected to build the company in Elgin, Illinois, which donated 35 acres (140,000 m2) of land to the entrepreneurs. The building was completed in 1866 and housed the Elgin Watch Company. The first model the company made was named the B.W. Raymond.
Raymond is buried in Graceland Cemetery, Chicago, Illinois.
Read more about this topic: Benjamin Wright Raymond
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