State Treasurer Dan Rutherford announced Sunday that he will be running for Governor of Illinois in 2014, according to his website.
"Now is the time for leaders to act with conviction and courage. Through wise stewardship, we can eliminate our massive debt, fund our liabilities, build an environment that job-creators are seeking and provide financial security for tax payers," Rutherford said on his website.
The Pontiac Republican, 58, will also be launching a three-day tour with stops including Chicago, Pontiac, Springfield and Rockford, he told the Associated Press.
"Illinois is indeed broke - but our great state is not beyond repair," his website reads.
As a state senator, Rutherford voted for the civil unions bill, and believes that gay rights should not be a defining issue for Republicans. Most Republicans seem to believe it should be, so Rutherford will have to win over right-wingers.
Rutherford has been saying for months that he's interested in the job and waiting for the right time announce.
The former state representative is likely to face several GOP contenders. Those who've expressed interest are state Sens. Bill Brady, Kirk Dillard and venture capitalist Bruce Rauner.
Gov. Pat Quinn has said he'll seek re-election in 2014 and could face challenges from within his own party. Former White House chief of staff Bill Daley and Illinois Attorney General Lisa Madigan also are considering runs.