That is a somewhat good theory…but there are two main problem.
#1 getting someone here to open a large plant.
#2 Getting the people in these neighborhood want to actually work. I have been around these people all through growing up and there is NO DESIRE AT ALL for most of them to actually go out and work (legitimately). Most are not motivated to work and get things for themselves, they would rather work the system and get everything for free. Then you think kids are brought up in this environment and they tend to end up the same way.
Then if some of these people do actually go out and get a job. There is a high chance they will be lazy and do poor quality work. With today’s labor laws and whatnot it will be hard to fire these people to bring in people who actually want to work.
I am just speaking from my experiences while going to school and working lower paying jobs when I was younger. It may be a little generalized but I think for the most part this is all true.