It is the site of the biggest industrial estate in the region and of Radio Borders HQ. It is soon to be the site of Tweedbank railway station at the end of the Borders Railway between the Central Borders and Edinburgh.
Tweedbank Drive is the main thoroughfare through the village, leading from Galashiels towards Melrose, with a number of roads adjoining. Driving eastwards, on the left adjacent firstly is Abbotsferry Road. The next turn off is on the right-hand side, Weavers Linn leading to The Beeches. Other roads leading from the main thoroughfare are Cotgreen Road, Honeylees Drive, Essenside Drive, Jura Drive and Craw Wood.
The settlement was started in the early 1970s on the land of a farm whose original house still stands (serving as a boarding cattery) adjacent to the community centre (known locally as 'The Barns'). The original settlement was built by Scottish Special Housing and included the streets of Neidpath Court, Blakehope Court, Hareshaw Bank, Stobshaw Place, Stobshaw Terrace and Haining Drive. In the 1980s Bett Housing (later to be taken over by Lema Homes) began building on the site at the entry of Tweedbank from Galashiels; this estate included the streets Abbotslea, Riverside Drive, Abbotsferry Road, Lowood Park, Ladymoss and Heathery Rigg. To locals this area was often known as 'the Betts'.
The 1990s saw two developments by Eildon Housing Association, namely Jura Drive and Craw Wood, with private housing being built around Tweedbank View and Tweedbank Drive. The final development in the 2000s was constructed by Barratt Homes in the area around Weavers Linn, built on the former Abbotsford to Lowood road (later a footpath).
The original primary school near the loch was a small school of fewer than 100 pupils and composite classes. In 1996 this changed, due to a slightly increasing population, and the school was now able to teach students in separate classrooms organised by their year of schooling. In the early 2000s the school expanded due to a significant increase in the local population.
Each year in May, the village celebrates a week long 'Tweedbank Fair' in which a local 'Tweedbank Lad and Lass' (together with two attendants each) are appointed from members of the school's Primary Seven class.
In addition to residential housing and the Primary School, Tweedbank also boasts an all weather sports complex, an Astroturf football pitch, an indoor bowling club, a large children's all-weather play area, and the Gun Knowe Loch, which is actually a man-made lake. The loch is popular with locals due to its abundance of swans and ducks. Amenities located next to the Gun Knowe Loch include a local shop, a hairdressers, and the bar/restaurant Hergés on the Loch, which has outdoor seating available in the summer. Government offices for Agriculture & Fisheries and the Scottish Public Pensions Agency can also be found within Tweedbank.