This article describes the territory of the industrial areas of St. Petersburg and the problems of land reclamation. It shows the importance of proper renovation of the industrial areas, especially those that are located in the city center and are interesting for the city and investors. Also focus on the comparison of tax policy with the European. The problem of soil pollution industrial areas of St. Petersburg presents. In this paper numerous recommendations are proposed which encourage to accelerate the process of land reclamation, improve the economic efficiency of it and its attractiveness to investors.