Abstract
This article analyzes the main factors affecting the regional development and their interaction with public administration. The article proves that each region can solve its own economic development problems not least because of the strengthening of territorial communities and creation of unified territorial communities. It is noted that in 2016 the funding system was changed and funding tools for regional and local development that allowed local authorities to effectively solve and prevent local problems were found. The author mentions that the global tendency of the modern world is the growth of the role of regions as units of the regional level of public administration. It is noted that the worldexperience of public regulation of regional development is highly differentiated, and therefore, it is practically impossible to single out a dominant model for the implementation of the regional development policy. As the author points out, overcoming disproportions in the socio-economic development of regions, which is the main task in the regional policies of governments of developed countries, is solved mainly due to the outpacing growth of several regions that become centers for innovative development of the country and demonstrate a new type of economic and social growth for other territories.
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