Purpose: Recently, the legal basis for the maga-region has been established, and interest in regional competitiveness is increasing. This study examines the influence of regional competitiveness factors on the growth of the regional economy, focusing on maga-regions, in terms of corporate innovation capability, economic power base, and creative potential, and examines policy implications. Research design, data, and methodology: This study categorizes the maga-region and uses the time series data from 2013 to 2018 to conduct a panel analysis through the LSDV (least squares dummy variable) model based on the ultra-wide area. In particular, independent variables derive competitiveness factors from the perspectives of corporate innovation capacity, economic base, and creative potential, and analyze the effects of these regional competitiveness factors on per capita GRDP and per capita GRDP growth rate. Results: As a result of the analysis, the influence of regional competitiveness factors based on the Gwangju and Jeonnam maga-region on GRDP per capita is as follows. First, in the field of corporate innovation capability, knowledge performance has a positive (-) effect. Next, in the economic power sector, industrial base, manufacturing base, SOC base, and financial power were found to have a statistically significant positive (+) effect. Lastly, in the creative potential sector, the talent index and amenity index had a statistically significant negative (-) was found to be affected. In addition, the influence of regional competitiveness factors on the per capita GRDP growth rate based on the Gwangju and Jeonnam metropolitan areas is as follows. First, in the field of corporate innovation capability, knowledge resources have a positive (+) effect. Next, in the economic power sector, the industrial base, manufacturing base, and SOC base were found to have a negative (-) effect, and the regional financial power had a positive (+) effect. Finally, in the area of creative potential, tolerance index and talent index had a positive (+) effect. Implications: This study has limitations in that it analyzed the influence factors of regional competitiveness factors on regional economic growth by classifying ultra-regional regions through regional dummies in a situation where interregional cooperation has not yet been established in earnest at the ultra-regional level. It is hoped that this study will serve as a starting point for monitoring regional economic growth for ultra-wide cooperation in a situation where the institutional foundation for fostering ultra-wide areas has recently been established.