Bridgeport Mayor Bill Finch announced Tuesday afternoon that he is dropping out of the race for mayor.

Finch said he will back the petitioning campaign of businesswoman Mary Jane Foster, who is now running as an independent. Finch and Foster talked about their positive outlook for the city's future, saying they share the same goals.

Finch, seeking re-election, narrowly lost the Democratic primary earlier this month to former mayor and convicted felon Joe Ganim.

Finch had hoped to appear on the November ballot under the Job Creation Party banner, but the secretary of the state ruled that the party failed to meet a deadline to nominate a candidate.

Ganim said he is happy that Finch listened to the voice of the people and decided not to run for re-election.