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Regarding the OP'S question: I bet this will get modeled as the South having much less Capitalists than the North. Capis build on their home States and you can't promote Capis on a whim as you did on Victoria I. You'll need at least an Interventionist Lower House to rapidly industrialise the South.
really this is a question that can only be answered after the game has been released. For now all one can do is debate cause and effect of industrialization in the role of the Union victory in the American civil war, and that really is more of a historiographical debate better undertaken in the History forum, not in the Victoria game forum. As such, thread closed until game release can allow for actual discussion of game mechanics and their ability to model the processes discussed.
For example how many units of a good equals to how many tonnes of the product in real life? Is a .01 of a small arm 1 rifle or is it something else?
If we got the ratio fixed to something then we can adjust the game to more accurately model real life industrialization at least as far as numbers is concerned.
In my games by the time the civil war breaks out, New York has about 10 factories while the south has maybe 4 or 5 so I don't know what the OP's point is.
The only real anomolie is that Louisiana/Texas seem to get all the migrants until the Union gets California, but I guess that'll be fixed in Vicky 2.