Patrick Economic Summit Aims To Kickstart Mass.

GLEN JOHNSON

BOSTON (AP) — Massachusetts will consider a fund to provide capital to small- and medium-sized businesses, Gov. Deval Patrick announced Tuesday as he closed a one-day summit with government and business leaders.

The Democrat also said he would explore ways to provide strategic advice to smaller businesses, whose growth could play a pivotal role in the state's recovery from the national recession.

He said he hoped to work out details of both programs during the next 90 days.

Hours earlier, Patrick opened the meeting at the Federal Reserve Bank by outlining his administration's four-pronged growth strategy: supporting innovative industries such as life sciences and clean energy; investing in education; building infrastructure through bonding; and promoting development throughout the state.

"Like the nation, this commonwealth is in a tough spot," Patrick told about 150 attendees. "And we are all in it together and we will recover together. The question today is 'how do we rebuild together.'"

Senate President Therese Murray, a Democrat, said one of her priorities is streamlining the state's economic development infrastructure, which she called "fairly disorganized."