Analysis of the effective development and use of regional assets

The study presents the comprehensive performance assessment of the most valuable regional asset that is the labor capacity of entities in Central Black Earth Economic Region for 2010-2016. The relevance of this issue is explained by the necessity of improving the state policy in the sustainable use of regional assets. Studying the labor potential, the author reviews healthcare, social, moral, ethical, and educational capacities as well. The evaluation findings demonstrate the inefficiency of labor potential management system in the region under review. It is caused by the demographic crisis, alterations in labor behavior as many managerial decisions on labor capacity are not strategic and are to address the challenges. The analysis of the effective development and use of labor potential reveals the need to develop public policy tools. This policy is a set of activities conducive to interaction between economic agents, municipal authorities and socially active groups that create the institutions of public administration at the regional level. This fact will increase business activity, business attractiveness and transparency of the region, reduce production costs, ensure employment and labor productivity growth and will contribute to the sustainable territorial development.