The main industry is grape growing and fruit orchards.

New Residence was first established as a Village settlement with a population of 75 in the last decade of the nineteenth century.

[2] These were set up as communes by the Government of South Australia as part of a scheme to mitigate the effects of the economic depression.

[3] However, New Residence only lasted as a village settlement for three years before it failed due to the settlers not having the skills and ability needed to make it a success.

[4] By 1917, a Lutheran school had been established, as it had 30 students when it was closed by the state government due to the anti-German sentiment during World War I.