**6. Recommendations**

The author has conducted a research of dynamics of region investment appeal of the Kaluga region—the leader in formation of favorable investment climate for foreign investors and to creation of industrial parks in Russia. It is as a result proved that in connection with imposition of economic sanctions the area has faced development problems, namely, deterioration in a solvency of the population, employment and effectiveness of activity of small business. All this has brought to rating downgrade of area to "National rating a state of investment climate in territorial subjects of the Russian Federation." For large businesses in the Kaluga region, the technology of creating industrial parks is effectively applied.

### **7. Conclusion**

Author examines the effectiveness of region government policy on investment policy. Investment policy among her works plays a major role, through the human, innovation, and financial side and the development of strategies to attract investment. For realization of statistical research in Russia regions, she proposes normative model of region investment appeal, monitoring effectiveness of government and business for the development of the region. It is as a result proved that in connection with imposition of economic sanctions the leaders in formation of favorable investment climate in Russia regions have faced development problems. She proved that the imposition of sanctions in 2014 significantly affected the investment climate of the Kaluga region, since its economy is more dependent on the activities of foreign investors. For other leaders—the Tula, Voronezh, and Moscow regions, Moscow and Russia in general, the sanctions played a stimulating role.
