The industry of the region is represented by five companies: Board Mill “Olkhovka”, the Ostrovets Forestry, the Plant of Construction Materials, the Ostrovets-based Plant “Radiodetal”, the Center of Cooperative Industry. There are eight private companies in the region: Veras, Vesta, Krok, Technoplast, Les-Met, Exo Corporation, Firma GLT, the agricultural farm “Ostrovetskoe”. 

The economic and social development of the region is mainly based on agricultural industry. The agrarian sector of the economy is represented by ten agricultural production cooperatives.