Innovation development of industry as the basis of socio-economic growth of the regions of the Arctic zone of the Russian Federation

Abstract

Abstract It is shown that there is a need of scientifically based technologies and a significant increase in the innovation activity of resource enterprises aimed at the transition to modern progressive industries as the most important mechanism for improving the socio-economic development of the Arctic. Studies and calculations of innovation susceptibility, innovativeness, activity, economic and social development, state of the budgets of the Arctic regions, financial results of organizations, sources of investment financing in fixed assets, costs for developing and implementing innovation projects across the entire spectrum of industrial enterprises was carried out. The analysis of innovation susceptibility, innovativeness, activity, economic and social development showed that there is a differentiation of indicators of the Arctic regions associated with differences in innovation development. As a result of research it is determined that the budgets of the Arctic regions in different periods are characterized by a deficit and are not able to provide effective innovation activity and consequently economic growth. The main source of investment is the own funds of enterprises which are not enough for the development and implementation of innovation technologies. State stimulation of industry for the transition to a scientific and innovation development path is required.