Beloit (bəˈloit) [key], city (1990 pop. 35,573), Rock co., S Wis., on the Rock River; inc. 1846. It lies in an agricultural area. Beloit's manufactures include papermaking machinery, engines, food, and knives. A trading post was established on the site in 1824 for trade with the Winnebagos, and in 1837 the first permanent settlers arrived from New England. Beloit College, founded in 1846, is there.