Parkesburg is located in Chester County, one of William Penn's original three counties. The town was first known as the Fountain Inn, after a 1730s tavern, and the tavern later became the town's first post office. Fountain Inn was renamed Parkesburg after prominent politician John G. Parke. A number of important businesses had connections to Parkesburg, including the Philadelphia and Columbia Railroad, which was later a part of the Pennsylvania Railroad.  In 1872, Horace Beale moved his ironworks from nearby Hibernia to Parkesburg and named it the Parkesburg Iron Company. The company had a competitive baseball team, and major?leaguers such as Babe Ruth played against the team. The town also was home to one of the first airfields in the county.