CEO’s Report: Economic development is building strong communities for the long term

Economic development is often reduced to a single goal: landing the next major employer – the “big fish” that promises jobs, headlines, and immediate impact. While those opportunities are important, they are only one part of a much larger story.

At its core, economic development is about creating the conditions for a community to thrive over time. It’s the intentional effort of strengthening the local economy in ways that expand opportunity, enhance stability, and improve quality of life for the people who live there.

That work looks different in every community Heartland serves. For some, it may include attracting new industry. For others, it means helping a local business owner expand, purchase new equipment or move into a better location.

In still others it means investing in infrastructure to position the community for future growth. 

True economic development is not defined by a single project – it is built through steady, sustained progress.

Supporting growth from within

The reality is that the majority of economic growth happens from within. 

Existing businesses—those already rooted in the community—are the backbone of any local economy. Supporting their ability to grow, adapt, and succeed is one of the most effective economic development strategies available.

Equally important is recognizing that economic development extends beyond business activity alone.

Communities that succeed over the long term are those that invest in quality of life: safe neighborhoods, strong schools, reliable infrastructure, and amenities that attract and retain residents. People choose where they want to live first; jobs and investment often follow.

This broader view is especially critical for smaller and rural communities.

Competing for large-scale projects may not always be realistic—or necessary. Instead, steady, intentional investments in local assets, workforce, and livability can create meaningful, sustainable growth that aligns with the community’s character and goals.

Public power plays a unique role

Community-owned utilities are not just service providers. They are long-term partners in local success. 

Because public power utilities are locally governed and community-focused, their priorities align directly with the people and businesses they serve.

Decisions are made with a long view – focused not on quarterly returns, but on reliability, affordability, and reinvestment in the community. 

At Heartland, we see economic development as an extension of that mission. 

Our role goes beyond delivering reliable, cost-based power. We work alongside customers to support business retention and expansion, provide resources for community-driven projects, and help position our communities for future growth.

Programs that support housing, workforce development, and infrastructure are just as critical as those aimed at business attraction.

In fact, the most impactful economic development often happens quietly. It’s a small business expanding its footprint. The downtown that sees renewed investment. An entrepreneur creating jobs. These incremental gains, supported by reliable energy and strong local partnerships, are what build resilient communities.

Equally important is the role public power plays in enhancing quality of life.

Reliable electric service, responsive local control, and reinvestment of revenues back into the system all contribute to communities where people want to live and work. And increasingly, those quality-of-life factors are what drive both workforce decisions and business investment.

For many of the communities we serve, this comprehensive approach is essential. Competing for large-scale projects is only one path to growth, and not always the most sustainable one.

By focusing on strengthening local assets and supporting existing businesses, communities can create lasting economic momentum that reflects their values and priorities.

Economic development is about creating an environment where opportunities of all sizes can succeed.

At Heartland, we are proud to power that work every day—helping our communities not only grow but endure.