I've seen some amazing theater come out of Empty Space and ACT both, although ACT's reputation around here isn't worth a whole hell of a lot anymore. From your brief mention of them, it appears there is good reason for that. Losing Empty Space however has left something of a void here, that thankfully a number of eager young troupes seem to be filling in fairly well, on a smaller scale.
The great bane of this area (or anywhere that isn't LA or NY I imagine) is that everyone who gets the briefest glimpse of their own talent immediately moves to one of the hub cities (as is my want), leaving us with a constant crop of up and comers, when the fields are fruitful. Also, to be clear, I don't mean to say I am anywhere near in your league of professional theater, having only been involved in a number of smaller productions around here (acting, for the large part). Life has taken me out of doing it from time to time (aka now), but I always go back.