By the American Civil War, the South produced only 10% of the USA's industrial goods and had half the mileage of railways as the North did. The disparity in industry, infrastructure and resources gave the North a massive advantage over the South in the War. While there was some industrialisation in the cities of the Upper South, the profitability of plantations siphoned funds away from these endeavours; money was invested in slavery rather than technological innovations and industrial capitalist ventures.
Given these things, could the South industrialise to a significant extent, say a proportional ratio to the industrialisation of the North, and how would it do so? Would some or many external factors need to be changed first?
Would the industrialised factories be slave-based or wage labour-based?
EDIT: Yes, I know this is a topic often discussed, and I'm sorry for posting it again.