The Earldom of Caledon was created in 1800 in the Peerage of Ireland. The recipient, James Alexander, had in 1790 been created Baron Caledon, and in 1797 Viscount Caledon. The three Caledon titles have remained united under one holder.
Close to the town are extensive flour-mills, erected by Lord Caledon in 1823, where above 9000 tons of wheat are ground annually, all of which is grown in the vicinity, where scarcely an acre of wheat was sown at the beginning of the century.
There are several large and elegant houses in the neighbourhood, the principal of which is Caledon Hill, the seat of the Earl of Caledon, which stands in a richly ornamented demesne of 650 Irish acres, extending beyond the Blackwater into the county of Armagh.
Caledon gives the titles of Baron, Viscount, and Earl to the family of Alexander, in which the proprietorship of the town is vested.
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