The relevance of the research is due to the fact that there is a lack of scientific knowledge in determining the development potential of the Chuvash Republic electrical engineering industry, which will help to form a clearer view of the performance of electrical engineering industry enterprises as participants in regional innovation processes. The purpose of this article is to assess the development potential of the regional electrical engineering industry. The leading approach to the research is an integrated one, and the method is a statistical and economic one, which allows to give a comprehensive description of the electrical engineering industry development in modern conditions. As a result of the analysis, we can state that we have assessed and substantiated the development potential of the region's electrical engineering industry: the advanced enterprises of Chuvash Republic electrical engineering cluster created a reserve expressed in the use of modern technological processes and international quality management standards in industries, however, a certain portion of opportunities is in the form of maximizing the implementation of human capital abilities, shaping the economy knowledge, is still not finding proper application, waiting for arrangements allowing it to realize the development potential of the industry.