<P> The first successful English colony was Jamestown , established May 14 , 1607 near Chesapeake Bay . The business venture was financed and coordinated by the London Virginia Company , a joint stock company looking for gold . Its first years were extremely difficult , with very high death rates from disease and starvation , wars with local Indians , and little gold . The colony survived and flourished by turning to tobacco as a cash crop . By the late 17th century , Virginia 's export economy was largely based on tobacco , and new , richer settlers came in to take up large portions of land , build large plantations and import indentured servants and slaves . In 1676 , Bacon 's Rebellion occurred , but was suppressed by royal officials . After Bacon 's Rebellion , African slaves rapidly replaced indentured servants as Virginia 's main labor force . </P>
the first permanent european settlement on future united states soil was located where
Jamestown