Industrialization is an important way for local governments to promote regional economic growth. It is found that the fiscal resources of local governments, the ability of local governments to coordinate financial resources, and the level of local industrialization are significantly and positively correlated. The empirical analy_x0002_sis was conducted by constructing panel data with a sample of 282 prefecture-level cities in China from 2011 to 2016, and the analysis results verified the theoretical hypotheses. By coordinating both fiscal and financial resources, local governments offer land to industrial enterprises within their jurisdictions at low prices, so that enterprises have enough funds to increase their fixed asset investment and thus enhance their production capacity. The heterogeneity analysis reveals that the above relationship is more evident in the central and western regions and regions with lower marketization.