This research analyzed the socioeconomic implications of the construction of the Peixe Angical Hydroelectric Power Plant (HPP) for the municipality of Peixe - Tocantins. It started from the institutionalist theory to understand the process of regional development of Peixe city as receiver of a hydroelectric project. Initially, we approached Douglass North's institutional theory, its precepts and terminologies to understand how institutions are important for economic performance. A historical approach was taken to the implementation process of hydroelectric plants in Brazil, which began in the south and southeast until reaching the entire national territory, with the northern region with its last frontier. Entrepreneurship is considered to be an inducer of development for the displaced regions of the industrialization process, however, they carry with them a series of social and environmental disturbances, causing resistance among the affected as well as with the evolution of environmental policy. The research is descriptive and explanatory. The methodology adopted was the analysis of secondary data from Ipeadata, RAIS, IBGE and UNDP, in a quantitative approach of the social, economic and institutional indicators of the years 2000 and 2010, and through semi-structured interviews, the perception of the local actors was captured, among political, economic and social agents. The interviews were processed by the Discourse of the Collective Subject (DCS) methodology using the software DSCsoft2.0, allowing a quantitative and qualitative treatment of the speech of those who experienced all stages of integration of the HPP to the regional context of Peixe city. An evolution of socioeconomic indicators was observed, however, following the state dynamics. The quantity of employment was significant, but limited to the construction time and it was evident the significant increase in municipal revenues, especially the ICMS coming from the production of electric energy by the HPP. However, there was no diversification of economic activities and the economic dependence of the public administration, as the largest employer, increased during the analyzed period. DCSs expressed a change in preexisting social relationships with the growth of the urban population and the establishment in the region of the migrants who arrived with the enterprise. In dealing with the construction period of the plant, perceptions are divided between the sense of surprise and apprehension with the concentration of people, the lack of structure and insecurity during the works and the flow of income, creating opportunities for financial gain. Regarding the legacy of the HPP, the participants presented different opinions, in spite of which they understand the importance of the enterprise as source of collection and the improvements left by the entrepreneurial group, at the cost of social and environmental disturbances. The participants presented a considerable distrust in the municipal public management in the control of the counterparts, articulation with the entrepreneur and in the management of the resources. The lack of institutions that provided a better performance was evidenced, characterized by the historical deficiency in the educational system, income distribution and economic dependence of the public administration, as well as, it was proved that the contribution of resources did not provide institutional evolution, although it is undeniable the importance of the enterprise for the municipal finances.
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