In the paper is established that for the effective development of the industrial enterprise in the conditions of the information economy, should be the modernization of the production sphere of the enterprise. The main aim of the research to find out the optimal mechanism of modernization of industrial sphere in accordance with requirements of the information economy for the industrial enterprise development. To solve this problem, a mechanism for modernization of the industrial sphere of an industrial enterprise has been developed in accordance with the requirements of the information economy, which is based on the use of a model for assessing the effect of measures to modernize the production sector and the model of coordination of projects for modernization of the industrial sphere. This allows automation, robotization and informatization of manufacturing and technological processes of an industrial enterprise on the basis of balancing the criteria of maximizing financial results and competitiveness. It was established that the development of an industrial enterprise in the conditions of the information economy should be based on the modernization of the production sector because it is precisely in this area that the largest gap of industrial enterprises from the leading enterprises is observed. Also, an analysis of research in this direction made it possible to conclude that the problem of modernizing of the industry is not new, but the aspect of the development of an industrial enterprise in the process of its adaptation to the information economy is not sufficiently illuminated. Therefore, there is a need to develop a mechanism for the modernization of the industrial sphere of the industrial enterprise in accordance with the requirements of the information economy, which should contain tools for the development of the enterprise in the context of the modern economy and ensure the formation of projects for the modernization of the production sphere, their mutual coordination and coordination of implementation plans, as well as control of implementation. It is proposed to build a mechanism for modernization of the manufacturing sphere of the industrial enterprise in accordance with the requirements of the information economy on the basis of the use of the model of the evaluation of the effect of measures to modernize the production sphere and the model of coordination of projects for the modernization of the industrial sphere. The model for assessing the effect of measures to modernize the production sector is a tool for determining the impact of measures to modernize the production sector on the competitiveness of the industrial enterprise and its financial results, as well as preparing the grounds for the formation of modernization projects, which are groups of related activities. The model for the reconciliation of industrial production modernization projects provides solutions to such tasks as the estimation of connectivity and compatibility of modernization measures, the definition of the resource costs ...