The article substantiates that today the regional cluster is becoming an important tool for spatial development, possessing such a unique set of characteristics as adaptability to changes in the external and internal environment (the level of cluster development determines the speed of such adaptation), the innovativeness of the processes taking place in it and the focus on continuous development, as well as great opportunities for the formation of a closed production cycle and the transition to functioning on the principles of a circular economy, This is the most important goal of the sustainable development strategy not only for an individual business entity, but also for the entire region. In his research, the author analyzes the full range of effects that the cluster has on the development of the region and regional enterprises, schematizes the process of interaction between the key blocks of the regional cluster, and also develops an algorithm for the formation and development of regional clusters in order to enhance investment activity in the region.
