Maynard, located on the Assabet River, was officially incorporated in 1871. Prior to that it was known as 'Assabet Village' but was legally still part of the towns of Stow and Sudbury. The community was named after Amory Maynard, a local mill owner. The community grew with the Assabet Woolen Mill and made the highest percentage of wool for U.S. Military uniforms for the Civil War. After the mill shut down in 1950, local businessmen bought the property and began leasing it as office space. Digital Equipment Corporation moved into the complex in 1957. The company eventually made Maynard its worldwide headquarters, giving Maynard the nickname "Mini Computer Capital of the World". It remained there until 1998 when Digital was sold to Compaq, which was itself later bought out by Hewlett Packard in 2002.
"The Mill", as locals call it, was renovated in the late 1990s as Clock Tower Place and houses many businesses, including the worldwide headquarters of Powell Flutes and Monster.com. The mill complex is also home to the oldest working, hand-wound clock in the country (see image).