what was the foundation of the virginia colony's early economy
Colony of Virginia The founder of the new colony was the Virginia Company,[3] with the first two settlements in Jamestown on the north bank of the James River and Popham Colony on the Kennebec River in modern-day Maine, both in 1607. The Popham colony quickly failed due to a famine, disease, and conflict with local Native American tribes in the first two years. Jamestown occupied land belonging to the Powhatan Confederacy, and was also at the brink of failure before the arrival of a new group of settlers and supplies by ship in 1610. Tobacco became Virginia's first profitable export, the production of which had a significant impact on the society and settlement patterns.