Ignacio de la Peña held title to the land that became Premont. Charles Premont, the town's namesake founded the town in 1908 and donated money to build the Catholic Church. The population increased in 1914 when the railway was built. In 1927 most of the settlers were dairy farmers. In the early 1930s oil was discovered and Premont's future looked bright. Oil production and dairy farming helped to revitalize the area's economy. The Premont Independent School District was established in 1921 and became the largest school district in Jim Wells County. The town was incorporated in 1939.
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