INDUSTRIAL PARKS AS AN INSTRUMENT FOR ATTRACTING INVESTMENTS INTO THE REGIONAL ECONOMY

Abstract

The article examines industrial parks as a key instrument for attracting investments into the regional economy and stimulating local economic development in the context of structural transformations, heightened macroeconomic uncertainty, and wartime challenges. The study substantiates the role of industrial parks in enhancing regional investment attractiveness by reducing entry barriers for investors, providing prepared land plots, and ensuring access to engineering, transport, and utility infrastructure. Special attention is paid to the analysis of state and local mechanisms for stimulating investment activity within industrial parks in Ukraine. These mechanisms include fiscal incentives for residents, budgetary cofinancing of infrastructure development, and preferential conditions for land use and property taxation. Based on the analysis of state support volumes in 2024–2025, the article identifies a transition from a predominantly regulatory and declarative industrial park policy to an active phase of direct budgetary support for infrastructure development. This shift has contributed to the activation of investment processes in various regions of Ukraine and created prerequisites for industrial recovery, modernization of production capacities, and diversification of local economies. At the same time, the study reveals a number of constraints limiting the full realization of the investment potential of industrial parks, including insufficient compensation ceilings for capital-intensive infrastructure projects, limited fiscal capacity of local governments, and a relatively low level of foreign direct investment inflows.

The article concludes that further development of industrial parks in Ukraine requires the expansion of financial support instruments, strengthening the role of regional investment policy, and deeper integration of industrial parks into national and regional economic development programs. Such measures are expected to increase the contribution of industrial parks to sustainable regional growth, post-war economic recovery, and long-term investment-driven development.