The analysis of investment projects for the construction of bakery enterprises and infrastructure facilities, based on the results of optimization of their placement, allows designing a program for the development of the bakery sector for remote subsidized regions. The program is aimed at ensuring an increase in the competitiveness of local producers and in the physical and economic availability of bakery products for the population. The proposed method of combined application of methods of mathematical modelling andproject analysis has been implemented in one of the remote northern regions of Russia – the Republic of Karelia, where the studied problems were expressed most acutely. The results obtained from the modelling give the opportunity to predict the cash flows of the project for the development of the baking sector of the Republic and evaluate its effectiveness. The results of the analysis show that both the project as a whole and its components are effective and meet the interests of the stakeholders.