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Analysis of economic modernization processes includes a study of the role of MNCs' ties at the local level as a resource and mechanism of modernization/ The MNC and local business integration mechanisms and results in various economy sectors in the Russian Black Sea region (Rostov Region and Krasnodar Region) are analyzed in the article. The forms and tools for including MNC in the processes of restructuring the economy of the Russian Federation regions from the point of view of forming ties at the local level and of management mechanisms providing this result are analyzed for the first time in the Russian research practice. The practice analysis of more than 20 multinational corporations that came to the regions after 2000 revealed a number of patterns in organizing their presence in both regions: significant investment volumes, export orientation, formation of relations between foreign multinational corporations, business models’ change compared to those in Europe. A significant number of MNC relations were established in both regions, for the reason of the agrarian orientation (which implies the counterparties multiplicity), and also owing to the MNC conditions fulfillment to localize production. A fairly active role of both regions’ authorities in promoting foreign investment has been identified, a number of policy measures strengthening the ties between MNC and local economies have been identified.

Transnational Corporations as a Long-Term Factor of Economic Modernization at the Local Level (The Russian Black Sea Region Experience)