Industry requires the cheapest land possible. More money spent on pedestrian and transit infrastructure might make the land more valuable for commercial and residential use, but that makes it more difficult to maintain industrial use. They would pay more for services that they don't need or benefit from, and eventually they might move away because everyone else willing to pay more for that land. That's what happened to many of the factories in and around downtown Toronto.
Industrial road in Toronto with drainage ditches instead of sidewalks, near the Kipling subway station:
https://www.google.ca/maps/@43.62727...7i13312!8i6656