The hamlet was named after James Newton, who built a sawmill in the area in 1894, which would eventually become the Newton Falls Paper Mill.
The hamlet was constructed primarily as a mill town.
The papermill was referred to as the "mill of tomorrow" making huge advancements in the future of paper and pulp processing and manufacturing. At it's peak the Newton Falls Paper mill employed over 600 workers, and was the economic back bone area along with the Benson Mines Coorporation.
The Paper mill built numerous Sears style houses, stores, and recreational halls, along with a public water supply, two churches, post office, school house and a hotel for it's workers and guests.
The mill and the village thrived for over 100 years before the mill was shuttered in 2000 by owners Appleton who decided to consolidate it's operations to their home state of Wisconsin.
In 2007 the paper mill reopened under new ownership but do to declining paper market reclosed it's doors in 2011 and liquidized all of the assets for good. Today the Mill property is currently for sale, and is one of the few areas left in the Adirondack Park which is still zoned for industrial use.
The 100 + year old Newton Falls Hotel which still stands prestegiously overlooking the former papermill on top of Plank hill, although it is now privately owned and no longer open to the public.