We must dominate world trade to gain colonies and allies. This requires a large merchant fleet and plentiful consumer goods to sell. Consequently, I recommend constructing industry as follows:
Since we want to maximize the production in our city, our university should educate only two workers: 1 prospector and 1 engineer. The armory should recruit 1 artillery regiment, 1 cavalry regiment, and 2 infantry regiments for exploration and defense.
The shipyard should create 4 Indiamen, representing the largest merchant capacity we can create.