Regional Measures to Support Investment Projects: Problems and Solutions

Aim. The purpose of the study is to identify and systematize regional mechanisms of state support for investment projects in the Russian Federation, as well as to develop a comparative approach to their assessment. Special attention is paid to the analysis of the legal, budgetary, infrastructural, and institutional-procedural components of the investment policy of three subjects of the Federation — the city of Moscow, the Republic of Tatarstan, and the Tula Region, which have different models of investment environment management. Methods. The methodological basis of the study was a comparative and structural-functional analysis, a method of systematization of regulatory acts, as well as an analytical grouping of support measures into three blocks: fiscal and legal incentives, budgetary and infrastructural tools and institutional and procedural support. To visualize the results, the author’s model of the “taxonomy of support measures” was used, supplemented by a heat map of the intensity of the use of tools in regional policy. Results. The results of the study allowed us to establish that each of the regions under consideration has built its own configuration of support measures: in Moscow, a comprehensive legal and digital infrastructure for project support prevails; in Tatarstan, the emphasis is on integrating legal incentives and cluster mechanisms of the Alabuga SEZ; in the Tula region a combination of tax incentives and “one-stop shop” practices with more limited infrastructure resources. Comparative analysis has shown that institutional maturity and consistency of instruments directly correlate with the investment attractiveness of the region. Conclusions. In conclusion, it is noted that the developed methodology of three-block classification and visual diagnostics makes it possible to assess the balance and effectiveness of regional investment policy. The results obtained can be used by the authorities in adjusting the regulatory framework and forming targeted support measures to improve the effectiveness of the investment climate.