The Collaborative International Dictionary of English v.0.48:

industrialize \industrialize\ v. t. & i.
   To make industrial; to develop so that most of the working
   population is engaged in non-agricultural labor; to develop
   economically; -- of nations or geographical areas; as, to
   industrialize underdeveloped nations.
   [PJC]

WordNet (r) 3.0 (2006):

industrialize
    v 1: organize (the production of something) into an industry;
         "The Chinese industrialized textile production" [syn:
         industrialize, industrialise]
    2: develop industry; become industrial; "The nations of South
       East Asia will quickly industrialize and catch up with the
       West" [syn: industrialize, industrialise]

Moby Thesaurus II by Grady Ward, 1.0:

20 Moby Thesaurus words for "industrialize":
   accomplish, achieve, act, be productive, bring about,
   bring into being, bring to fruition, cause, commercialize, do,
   effectuate, engineer, execute, mass-produce, overproduce, perform,
   produce, realize, volume-produce, work