"We believe that the most effective economic development strategies are those intended to have long-term results," he told lawmakers. "For us in Massachusetts, this has meant basing a growth strategy on long-term investments in education, innovation and infrastructure."

Smith said it's important to listen to the business community and constantly revise policies to compete in a global economy. She noted that Connecticut celebrated the groundbreaking of a new research laboratory on Thursday.

"In this day and age, if you stand still, you're actually losing ground," she said.

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