Different story in Australia - industrial is likely to be used for local infrastructure and the like - provided the whole stack of cards doesn't come crashing down. While Australia isn't in as much disrepair as the US, there are parts ...
We do not have the benefit of those cheap rural towns. Everything is unsustainably increasing in price when it comes to real estate. Australia's economy is entirely built around it. The biggest "profit" was posted by a bank.
No productivity here other than minerals coming out of the ground and being pushed out to other countries. :)
But - yes, sovereign high tech (and low tech) - manufacturing base are important so you can get basic shit done - like say, make nails and screws, fence posts, or the like.