A modern approach to the activities of an innovation territorial cluster in the Russian Federation is revealed in the article. It is underlined that creating cluster organizational structures requires methodical, expert, analytical and other support, coordinated by goals, deadlines and resources, as well as target indicators of cluster production efficiency, based on the planned value and complexity of the final cluster production tasks. Innovative production costs are calculated taking into account the market factors. The current regulatory framework for innovative territorial cluster development is also analyzed. A homeostatic approach to cluster economics necessary for ensuring its economic sustainability is revealed. The definitions for the terms «homeostasis» and «homeostatic» are given with a reference to the works on homeostasis written by V.N. Afanasieva, N. Wiener, A.A. Volkov, V.M. Glushkov, Y.M. Gorski, W.R. Ashby, and others. Professor M.D. Kargopolov’s matrix formula is verified as a tool of modern economic-mathematical modeling for calculating the innovative production costs of cluster, including calculating the prime costs of the cluster’s production. This versatile formula allows identifying the production efficiency both for the final cluster product and the intermediate cluster production components produced by different economic agents of an innovative cluster, including those located in a macro-region with various territorial factors affecting cluster production costs in the market. The economy of cluster organizations differs from that of other legal entities and requires specific research methods for assessing the performance of a regional cluster as a whole and of its subjects taking into account their proportion in the final production of the cluster.