Follet is found in northeastern Lipscomb County. It was established in 1917 when it was made a stop on the railway. Santa Fe official Thomas C. Spearman is given credit for the idea. It was named to honor Horace Follett, a railroad engineer. Follett was populated by Oklahomans who crossed the state line. The town was given the slogan "Gateway to the Golden Spread" since it had become a wheat and grain storage and distribution center. During the 1980s the area produced grain and cattle. In the beginning of the 1950s it also produced oil and gas. Modern irrigation has helped local agriculture grow.
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