Technological park establishment as a factor of innovative economy development

The aim of the article. The purpose of this article is to offer establishment in one of the typical regional centers of Ukraine. It is innovative form of business and economic activity technological park with close cooperation of business and science.The results of the analysis. It has been discovered that the state of Sumy region economic development mainly does not meet the entrepreneurs needs. The following points which have negative impact on businesses are identified: high tax rates, the rental fees and poor investment climate. The impact of these problems could be reduced by creation of technological park. Based on the results of the research the feasibility of establishing a park in Sumy has been confirmed.In terms of current Ukraines difficult economic and political conditions the construction of a new scientific and production center requires firstly enormous allocations, secondly the allocation of large areas in the city for construction, thirdly this process will last at least for several years. That is why it is advisable to take into consideration the possibility of establishing the technological park basing on the existing research and production complex. One of the companies which correspond to the attributes of technological park is Selmi.Conclusions and directions of further researches. Selmi has universal equipment and its own research institute, which deals with a wide range of production areas: micro-and nano-electronics, aircraft and rocket engineering, petrochemical and natural gas industries, nuclear power, metallurgy, optics, etc. Part of the company territory currently is not used for production or research purposes. Selmi is a strategically important company at both regional and national level, successful economic activity of which should be revived. The main features of the enterprise are well-trained professional staff, good central location, large industrial and research areas, great scientific potential of Sumy state university students and faculty that can be employed in order to collaborate. Analyzed above, we can conclude that Selmi can be considered as a basis for the creation of technological park in Sumy region.