Born in 1810 in Wuertemberg, Germany, Jacob Hespeler first emigrated to the United States before reaching Preston in 1830. During his stay in Preston, Hespeler operated a general store and founded several industries. After a failed attempt to purchase the John Erb Mill, Hespeler left Preston and moved to New Hope in 1845, where he purchased a valuable water privilege and constructed saw, flour, distillery, and woolen mills. Hespeler was an ardent promoter of the arrival of Great Western Railway in New Hope, which served as a connection between Galt and Guelph. The settlement of New Hope became the village of Hespeler on 1 January 1859 and Jacob Hespeler served as the first reeve. Hespeler died on 22 March 1881.
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