The history of Wilmington dates back to the 1720s, when European colonists began settling lands along the Cape Fear River. The city was officially founded in 1739. Initially, this settlement changed several names, including Newton and New Liverpool, but was soon renamed Wilmington in honour of Spencer Compton, Earl of Wilmington, who was a patron of the Governor of North Carolina and held a high position in the British government.
Wilmington owes its rapid growth and prosperity to its strategic location. Situated on the Cape Fear River, it became a crucial port city in colonial North Carolina. The river served as a convenient transport corridor for exporting goods from the interior regions, transforming the city into a major centre of trade. Timber and so-called "naval stores"—resin, tar, and turpentine—were particularly valued, being vital for the thriving shipbuilding industry of that era.
By the 18th century, Wilmington had evolved into a bustling economic and social hub. Its status as a key port attracted merchants, artisans, and sailors from around the world, contributing to the formation of a dynamic urban life. Thanks to flourishing trade, a wealthy merchant class emerged here, building elegant mansions, many of which still adorn the historic city centre. Wilmington also became an important political centre of the colony, playing a notable role in events preceding the American Revolution.