Researchers recently developed place brand theory dynamically to reflect place identity in order to attract and maintain invest in long term and develop economy. Aim of this research is to develop comprehensive model of investment attractiveness from place branding perspective empirically to increase investment attractiveness in gas industry. In this research 300 questionnaires completed by available executives and experts of National Gas Company. Constructs Reliability (Cronbach's α, CR and AVE) and validity test was conducted by confirmatory factor analysis. Then the hypotheses of research were examined by structural equation modeling approach. Findings show that the place brand identity has a direct positive effect and place brand image has an indirect positive effect on investment attractiveness through place brand identity. Also, place brand identity and place brand image has mutual dynamic positive effect on each other. At same time these two factors are able to collectively explain about 78% of investment attractiveness.