[noun] + と共に [verb (dictionary form)] + と共に [noun] + である + と共に [na-adj] + である + と共に [i-adj] + と共に
と共に means "together with" or "along with". It goes after a noun, or after the dictionary form of a verb. It belongs to writing, speeches and the news; in conversation, doing something with a person is といっしょに一緒に.
When the noun is something that changes – age, the times, a process such as はってん発展 – と共に says that the second half changes with it.
For a gradual change like these, につれて says the same thing. につれて needs both halves to change step by step, though, so only と共に fits two things that happen at a single moment.
After である, と共に says that something is one thing and another at once. The second half usually carries も.
A noun or a な-adjective needs である here; without it the noun reads as a companion: ×教師と共に、作家でもある. An い-adjective takes と共に directly.
とともに, written in kana, is the same word and just as formal.