The aim of the article is to determine the main factors responsible for development of Podkarpackie Voivodeship in the last 15 years and to answer the question whether they were suffi ciently strong impulse to divert the region from its development model. The main method used for identifying the factors that determine the development of the region was individual, in-depth interviews with the main actors on the regional scene, supported by desk research analysis (of the voivodeship’s strategic and operational documents) and statistical data analysis (Central Statistical Office and Eurostat). The research highlights the importance of the immobile and intangible development factors – a high quality of strategic thinking of local and especially regional authorities and consistent implementation of development policies, a high level of social capital, extensive networks and the ability to co-operate – which have helped to eliminate the limitations resulting from the weakness of other factors.