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Polk County was established in 1861 when Hillsborough County was divided into eastern and western halves. The eastern half was named Polk County in honor of James Knox Polk, the 11th President of the United States. The economy of Polk County is historically based on three major industries: cattle, citrus and phosphate mining. Phosphate rock was discovered in the Peace River in 1881 which initiated the mining of the world's largest deposit of phosphate rock, known as the Bone Valley deposit. Phosphate mining still plays an important part in the Polk County economy. Agriculture and tourism also play vital roles in Polk's economy although the Polk County has recently expanded and diversified it economic base and the Central Florida Development Council is working to encourage new industries to relocate to Polk County. Former U.S Senator and governor, Lawton Chiles is a native son of Polk County, although Polk County did not support him in either of the governor races.