At SearchForecast, we build content roadmaps for clients. We find keywords they have not featured on their websites that not only are relevant but have traffic volumes. We then create pages of content and extend the information architecture of a website. Sometimes this is local content pages or additional pages on products and services.
Google will continue to reward websites that have quality content and as you can see from their last 4 Penguin updates, they require website publishers to create meaningful content
Penguin 1 on April 24, 2012 (impacting ~3.1% of queries)
Penguin 2 on May 26, 2012 (impacting less than 0.1%)
Penguin 3 on October 5, 2012 (impacting ~0.3% of queries)
Penguin 4 on May 22, 2013 (impacting 2.3% of queries)