...U.S. re-industrialization?
Why or why not?
No. I would not.
First off, I'm a little baffled by this romance about the industrial era. Steel mill jobs suck dude. You want more people to have sucky jobs? Why?
Risk of being killed. Hot and sweltering all day long. Fumes and chemicals. Covered in soot morning, noon, and night.
This is what we want more of?
Why?
Now I am not opposed to these jobs. But nor am I in favor of them. Better to have more engineering jobs.
In general though, I am utterly opposed to any subsidies for any economic growth at all.
When you grow something in the free-market, you end up with a more robust economy. Because inherently a free-market growth is not dependent on anything but the market.
When you have government driven growth, you end up with an economy dependent on the government.
A perfect example of this, was the windmill industry in the UK. So the UK had huge subsidies for wind power. This naturally resulted in a large growth to the industry.
Then the UK government simply didn't have the money for continued subsidies, and they cut them. The result was a sudden and dramatic crash in the industry.
In the short term, subsidizing industry would create growth. But eventually the government will have to cut those subsidies, and that will result in a crash.