Could be a good idea but it will never work.

And the reason?

Democrats.

They would never let it happen without set-asides for the unions and the poor so they could get a foothold and bleed the whole dam project to it's death with their demands just like they did to Detroit.
Not a chance in hell that will go through without providing for permanent high paying union jobs with all the lavish benefits and healthcare and pensions they demand and also a neighborhood of free housing for the poor that will turn into a den of drugs and crime and murder.

Nope, never happen, Democrats won't allow it. They think the way they ran Detroit is the way to go and all they need is more money to try it again. And again. And again.