phoenix - FEE-NIX - mythical bird that would live for centuries, die in flames, then rise anew from the ashes.

Example: "Shoot off in either direction from 8 Mile Road in Detroit & you'll find, phoenix like, dozens of Michigan manufacturers that are discovering there is indeed life beyond the auto industry by converting their specialized auto-parts factories to build or design a hodgepodge of products - whether aircraft parts, solar cells, or batteries for electric cars."