The first permanent settlement established by Europeans in North America was Jamestown, founded in 1607. Located in what is now Virginia, Jamestown was established by the Virginia Company as an economic venture, seeking fortune through the cultivation of tobacco. The settlement faced numerous challenges, including conflicts with Indigenous peoples, disease, and food shortages. However, with the introduction of tobacco as a cash crop, Jamestown eventually became economically viable. Its founding marked the beginning of sustained European colonization in North America and set the stage for future establishments, leading to significant social, cultural, and economic developments in the region.