The most common and most likely answer to this crossword clue is the 10 plus 4 letter word ENTERPRISE ZONE
I've seen this crossword clue in The Times
E
N
T
E
R
P
R
I
S
E
Z
O
N
E
Buddy explains!
The straight part
We know that "industrial area" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case industrial area = enterprise zone.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.