Chicago itself isn't likely to see a major resurgence of manufacturing jobs. Costs, land availability, and other factors will continue to drive most industrial employment to the suburbs.
But the city has an indispensable role to play. If Midwestern manufacturing is to revive, it will need a tech innovation hub that attracts top global talent and provides a startup ecosystem that gives entrepreneurs the wherewithal to generate ideas, build teams, raise capital and get ventures running without massive upfront investment.
Chicago is the obvious candiidate.