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Indeed, sorry. I focused on "higher up" while the important part was "gravity well"

LEO is as much a speed as it is a height.

Obviously? When you want to manufacture things you probably don't want to fall back down right away.

Well, I misunderstood your gravity wheel comment for a static position too.

That's still only 10% less gravity, the thing is the ISS goes really fast sideways. Being high isn't enough.