The positive externality of the technological spillover and the negative externality of environmental pollution brought by economic activity agglomeration can have an important effect on the spatial selection behaviors of economic subjects and further affect the equilibrium structure of industrial spatial distribution. The introduction of the local and transboundary effect of the technological spillover and the environmental pollution to exactly develop Krugman's (1991) center-periphery model can not only test its conclusion but also obtain a new conclusion. The increase of local technological spillover effect and the weakening of trans boundary technological spillover effect can strengthen industrial agglomeration force while the increase of local environmental pollution effect or the weakening of transboundary environmental pollution effect can enhance industrial dispersion force. The comprehensive action of “the centripetal force of technological spillover” and “the centrifugal force of environmental pollution” affects the equilibrium structure of industrial spatial distribution, when “the centripetal force of technological spillover” is bigger than “the centrifugal force of environmental pollution”, the range of trade freeness of stable “symmetric structure” will narrow, however, the range of the trade freeness of the stable “center-periphery structure” will expand, and vice versa. The “black hole state” put forward in the original center-periphery model is a possible equilibrium structure in this paper, and if certain initial conditions are satisfied, the symmetric structure may also be the only stable equilibrium structure no matter how the trade freeness varies. Therefore, the realization of the equilibrium development of regional economy is possible, and we should actively explore the new mechanism for regional integration development to effectively boost the coordinated development of the regional economy by promoting the technological spillover between regions and by strengthening the cooperation of environmental pollution treatment between regions, and so on.