Why did the south fail to industrialize in the late 19th century?

The cultivation of cotton which was the primary crop of the South had become simpler and faster, this allowed planters to meet the growing demand for cotton and make a healthy profit. Agriculture was seen as a guaranteed profit and there wasn't a great need for industrial plants down South since the North could fill the industrial needs of the nation. Also the creation of industrial plants would be seen as a risky venture since the North had well-established plants that were probably more effective. I might not have the answer your teacher was looking for so please check you sources.