The paper examines the priority of the cluster approach in the formulation and implementation of the development potential of the Pskov region. The authors proved the viewpoint that the cluster approach should be regarded as the optimal method of organization (reorganization) of the regional space from the as it reflects the relationships and the combinations of the natural and economic spatial structures that contribute to maintaining the stability of the regional economy and regional development. The peculiarities of the Northwestern Federal District are examined. It is indicated that the Northwestern Federal District has a special place in the economy of the Russian Federation. This is due primarily to the special geographical position of the Federal District. According to the studies carried out at the expense of budget funds for state task of the Finance University under the Government of the Russian Federation in 2015 on the topic: «Analysis of the status and evaluation of the development potential of the Northwestern Federal District», the Pskov region is experiencing the most difficulties with the implementation of its development potential. The problem of finding internal reserves and the potential for regional development is particularly relevant now, when the introduction of sanctions against the country catalyzes the implementation of national scientific and technological achievements, stimulates innovative development of the regions in the realities of the innovation imperative and, therefore, contributes to the development potential of the region. The authors interpret the concept of the development potential of the region and consider it as a complex system which consists, first, of the existing resources in the region, and, secondly, of the possibilities of improving their quality. The article presents a system of constraints and opportunities for the use of the cluster-oriented approach with regard to the application of the cluster symbiosis model for the forest industry in the region.