Lake Norman provides electricity to the Piedmont region of the Carolinas. It powers the generators at the hydroelectric station at Cowans Ford and is used by Marshall Steam Station and McGuire Nuclear Station to cool the steam that drives their turbines. The lake supplies water to Lincoln County, Mooresville, Charlotte, and other towns in Mecklenburg County, particularly Davidson and Huntersville.
Duke Power partnered with the state of North Carolina to establish Lake Norman State Park. It has also built two bank fishing areas and eight public boating access areas along the shoreline. One site is leased to Mecklenburg County and one to Iredell County. Popular game fish in Lake Norman include catfish, crappie, bluegill and yellow perch, as well as striped, largemouth, and white bass. Lake Norman is also home to "Normie" the Lake Norman Monster, with many reported sightings.
Lake Norman has done much to contribute to the area's economy; many communities have sprung up on the lake's shores, with vacation and primary residences bringing many people into the area. Many farming communities have turned to chic residential neighborhoods, including, on the south end of the lake, the upper-reaches of the Charlotte suburban zone. The area also features their own Lake Norman social network, giving these communities an online presence.
Lake Norman is also the location for one of the International Jet Sport Boats Association (IJSBA) tour stops. Team Tweek, a race team headquartered in Mooresville, helps promote and coordinate the annual event.
Lake Norman State Park is a 1,328 acre (5 km²) North Carolina state park near Troutman, Iredell County, North Carolina in the United States. The park is on the northern shore of Lake Norman at the mouth of Hicks Creek. The park, formerly known as Duke Power State Park, is open for year round recreation including, boating, fishing, water skiing, swimming and camping. Lake Norman State Park is on Inland Sea Road in Troutman just off U.S. Route 70 between Interstates 40 and 77.