Importance The article studies the cause-and-effect relations between problems and prospects of development of the construction industry of the Ulyanovsk oblast under the conditions of economic transformation of the Russian economy. Objectives The article aims to identify the current trends in the development of the construction industry of the Ulyanovsk oblast, analyze the existing problems and develop activities aimed at their solution, determine expected results of the proposed activities. Methods For the study, we used a SWOT analysis. Results The article describes the state of the construction industry of the Ulyanovsk oblast in modern conditions of the Russian economy. We have put forward a hypothesis about the impact of the crisis on the construction industry of the oblast and proposed certain actions to address the problems in the framework of the coordinated work of the Government, business and Universities of the oblast. As well, the paper talks about the expected results of the activities. Conclusions We conclude that the realization of certain mechanisms of interaction of regional authorities, business and educational organizations is required badly to successfully develop the construction industry in times of financial crisis.
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