Abstract
<jats:p>The article presents the results of an analysis of the reproduction of fixed assets in the economy of the Voronezh Region for the period 2020-2025 in the context of import substitution. The key influencing factors are identified: consumer demand, the level of asset depreciation, the regulatory framework, innovation implementation, investment activity, and the availability of financing. The cost of fixed assets is detailed by industry: agriculture, manufacturing, construction, transport, trade, and services. Based on the data from the Voronezh Regional Statistics Service (Voronezhstat), a quantitative analysis of indicators is performed, including the total and residual book value, the depreciation rate, the index of physical volume, and the dynamics of investments in fixed assets. Special attention is given to the agricultural sector. The differentiation of enterprises based on the availability of fixed assets per 100 hectares of agricultural land is studied. The following groups are identified: up to 700 thousand rubles, 701-1 400 thousand rubles, 1 401-2 100 thousand rubles, 2 101–2 800 thousand rubles, 2 801-3 500 thousand rubles, and more than 3 501 thousand rubles. The relationship between the availability of fixed assets and crop yields, labor productivity, and capital productivity is assessed. The analysis shows that the total book value of fixed assets in the region increased by 38.5 % (to 5 600.0 billion rubles), the residual book value increased by 27.5 %, the depreciation rate decreased by 4.1 percentage points (to 35.0 %), and the volume of investments increased by 70.5 %. The greatest increase was observed in non‑agricultural industries (40.5 %), while the increase in agriculture was 32.7 %. The optimal level of availability of fixed assets in the agricultural sector is determined in the range of 1 401-2 100 thousand rubles per 100 hectares, as it ensures high labor productivity and stable capital efficiency, correlating with higher crop yields. It is concluded that there is a stable trend towards strengthening the region’s material and technical base. To boost the development of the agricultural sector, the authors propose the following measures: strengthening government support for equipment renewal programs, stimulating private investments, developing leasing and subsidy schemes for small and medium-sized producers, promoting cooperation among agricultural enterprises and the formation of agro-industrial clusters.</jats:p>