A fire on January 31, 2017, caused extensive damage to one of Beacon's oldest hat factories. This historic building, founded in 1879 by Lewis Tompkins—who significantly contributed to Beacon's reputation as the hat-manufacturing capital of New York—was originally called the Tioronda Hat Factory and served as an extension of his Dutchess Hat Works on Lower Main Street in Fishkill Landing. The South Avenue factory operated as a hat shop until 1948 when it became known as the "Merrimac Hat Company." The property was later acquired by the Atlas Fibers Company, which initiated textile reprocessing operations there in 1949. After sitting dormant for several decades, the site is now set to be developed into condominiums by a local developer.