Bill Daughtridge for North Carolina Treasurer

N.C. Rep. Bill Daughtridge, R-Nash, confirmed Monday that he will formally announce plans on March 1 to run for election to the state's top financial position.

As treasurer, he could avoid the short-term politics of the legislature and focus on the state's long-term financial health, Daughtridge said.

"What I've seen a lot of times is bills getting passed for the good of one particular party but not looking at the long term," Daughtridge said of the N.C. House, which is controlled by the Democrats. "(As treasurer) I won't be encumbered by the politics part."

Daughtridge, serving in his third term in office, is the first to officially confirm his intent to run for the position next year.

Current State Treasurer Richard Moore is expected to face Lt. Gov. Beverly Purdue in the Democratic primary for governor in 2008.

Daughtridge has a background in finance that will lend itself to the treasurer's position, he said.

The president of Daughtridge Gas and Oil Co., he has served as chairman of the House Commerce Committee and vice chairman of the House Finance Committee.

His areas of focus while in office have been small business and economic development.

"Legislatively, that's kind of been my area," said Daughtridge, a primary sponsor on the William S. Lee Quality Jobs and Business Expansion Act, which allows poorer counties to offer higher incentives to potential businesses.

He holds a master's degree in business administration from the University of North Carolina-Chapel Hill, where he was a Morehead Scholar as an undergraduate.

Daughtridge said he has not officially began lining up support for the position, but has spoken to business and community leaders.

"I've talked to a number of business leaders across the state, and they have encouraged me to proceed," Daughtridge said. "I think with the things I've been able to accomplish in the legislature, I'll be able to accomplish a whole lot more (as treasurer)."

Daughtridge declined to comment on speculation that the run for treasurer could put him better in position to gain a higher public office, such as governor, in the future.

"I'm not thinking about that at this point," he said. "I just want to use some of my business expertise in the running of the business of the state.