Based on the empirical evidence, the article illustrates that dissemination of strategic management approach to economic development doesn't provide high effectiveness of strategy implementation. The authors argue that the latter is largely determined by inadequate consideration of the peculiarities of the information economy, as well as by neglected role information as a strategic resource. The main directions of transformation of economic development influenced by the information economy imperatives are discussed. The paper identifies the key tools and technologies of the information economy that modify the activities of the economic actors. The key areas where information is to be used as a development resource are defined, including: increasing role of the ICT sector in the development of the modern economy; the impact of ICT on the economic agents'performance; use of information in the process of economic development strategies implementation. As the authors suggest, despite a positive trend in each of the areas discussed, Russia is very much behind the leading countries in terms of development of the information society. The reason is that building and use of the capacities of the information economy needs a comprehensive solution which would integrate institutional and instrumental support for strategic development. So, on the one hand, use of the existing technologies of data mining, the decision support systems, techniques of quantitative and qualitative analysis will allow to increase validity of strategic decision making. On the other hand, building of appropriate institutional environment is a prerequisite for applied technological solutions in the strategic planning process. In addition, creation of integrated information technologies of new generation should be among the strategic priorities of economic development, with information and knowledge seen as a key driver for the regional economies' modernization.