The article is devoted to key issues of development of the Arctic zone of the Russian Federation. Economic development in the Arctic regions is possible due to the formation of the priority markets. It is necessary to create favorable conditions for business in the sphere of industrial production on the Arctic shelf, development of transport infrastructure of the Northern sea route, ensure national security and protect the environment. The economic growth of the arctic regions should be organized in to innovation-regional clusters. It is important to organize the activities of enterprises of high-tech sector with high export potential and import substitution potential