In the article the «economic growth» theoretical approaches to the terms and «sustainable development». It is indicated that «sustainable development» is related to the introduction of new technologies and innovations, as well as the mechanisms of perfection economic activity. The concept of «sustainable development» includes the principles of sustainability and balanced-ness, while economic growth is associated with the dominant country economic policy objectives), including innovative factors), with the well-being of its population level: the development of the social structure, from the labor market level and other factors. Prospects of development of the country based on the justification of the socio-economic model of its translational movement in the world civilization. Excessive political risks and economic sanctions have shown that Russia should not rely on foreign imports of high-tech, and the need to develop import substitution. Change the vector of development of the Russian economy made their adjustments to the development of the Voronezh region economy slowed down the speed of displacements, of capital, the regional financial centers develop poorly, due to lack of investment has slowed the growth of innovational and information development. There is a growing dependence of the region on the processes taking place at the international and national levels. In the example of the Voronezh area are considered factors of sustainable development such as the coordination of organizational efforts and financial resources in order to achieve a new quality of the region's population lives, and necessity of formation of a new development paradigm of management in the region, based on the modernization of diversified bath economy and the introduction of mechanisms to ensure the implementation of sustainable development. In view of the innovative-investment activity of JSC «Concern» Constellation «steady growth, coupled with an increase in the Russian Federation and the regional economy.

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