Key directions of economic development of U.S. Arctic and Canadian North are analyzed in the article. In accordance with the federal and provincial strategies they are transport, industry development, traditional and modern economic cultures interaction. Its influence on the governments politics and regional economic development are researched. On the basis of the strategies implementation directions its probable influence on future development of the region. The economic will have mostly resource specification, though its diversification is possible in some districts, traditional and modern cultures conflict potential would remain.