Assuming that the balance of renewable energy production vs non-renewable production in the world isn't itself affected by the decision of where to site these plants (which isn't always true of course but unless you're building your own generation it's close enough) - this is the wrong way to think about it. Instead, it makes much more sense to locate manufacturing facilities in such a way as to reduce the transport-miles involved in manufacturing since this results in a reduction in the total system energy usage ("the global economy" is the system), which should result in lower CO2.
So, use inconveniently-located but very low CO2 sources like hydro to power things like datacentres, which can be sited more or less anywhere. For anything else, there's a trade-off to consider between the two. But in the mean time focus on reducing the CO2 emissions in power generation globally, by extending grids, and focusing new-build generation on lower-CO2 sources.
Fortunately, we already have a machine which can help us balance this trade-off - the price mechanism of the economy. All that's required is that the cost of the externality (CO2 produced) is correctly factored in everywhere in the world, via either a cap and trade scheme or a carbon tax.