Glass and porcelain manufacture developed in Geschwenda at the end of the last century. Of particular importance was the production of thermometers, chiefly as a cottage industry. Moderate-size factories and houses appeared later. The infrastructure was improved. The glass and porcelain industry experienced a great upswing in the early twentieth century so that a great part of the population was able to make a living locally. After the Second World War, further industrial development occurred. The present Stahl- und Förderanlagenbau GmbH, an efficient factory producing construction steel, developed from a small metals workshop.
Many villagers made themselves independent in small cottage industries involving the production of wooden items and joined established crafts factories in a trade association of producers of wooden items. From this emerged the present Kunststoff- und Holzverarbeitungswerk as the largest employer in the village.
The new motorway A71 (Erfurt - Schweinfurt) passes directly by the commercial district Geschwenda-South. This exit, to be completed in 2002, will lead directly to this commercial district which was dedicated in 1994. At the present time twelve firms with 250 employees are located here.