Hello there!
The resource production of a planet grows with your industry, as well as you can find planets with 2 or 3 times yield, browse the planet explorer menu. I am making millions with the resources mined from colonies and selling them off at the exchange every 5-10 turns.
In other games you have not much to do with development of a colony, beside putting down the same building over and over and thinker with pops where you want them to work.
In Stellar Sovereigns I am attempting to model development from a governmental point of view like how the administration provides money to towns to spend on development.
I think the thing gets interesting, when you cannot afford development and have to decide where to cut back and try to stabilize over time.
The choices I often make are of, at which planet to grow excess food, where to build industry and the logistics of feeding needy colonies.
When it comes to population, I often deal with migrating the pioneer population to new colonies and using political capital to stimulate growth or invest into propaganda.
I often aim at achieving colonial development goals to get that sweet empire point to advance my traits.
Colony development might be a bit dull, but it is only a piece of the pulse.
That said I think it can be improved, so if you have any suggestions, I am all for it, beside throwing the whole thing out.