GOP Businessman to run for RI Gov.

PROVIDENCE, R.I. (AP) - Republican business executive Rory Smith said Wednesday he will run for Rhode Island governor in next year's election and created a campaign committee to start raising money.

The relatively unknown businessman is the first candidate to enter the race as a Republican. Although he has no elected experience, Smith may be the party's best chance of finding a successor to Republican Gov. Don Carcieri, who must leave office after finishing his second term in early January 2011.

Smith, 48, told The Associated Press that he is formally entering the race. He has quietly sought support over the past few months from leading Republicans in the state.

"We need to put Rhode Islanders back to work," Smith said in a written statement. "We cannot continue with business as usual in state government and expect to fix the problems we face. It is time for fresh ideas and a new perspective. I want to be that new voice."

Smith was a founding partner at Nautic Partners LLC, a private equity firm in downtown Providence, until resigning to run for governor. He lives in East Greenwich with his wife, Betsy, and three children.

Next year's race for governor could be crowded. Besides Smith, Democratic Attorney General Patrick Lynch and General Treasurer Frank Caprio are aggressively raising money for a campaign. Former Republican Sen. Lincoln Chafee is also exploring a run as an independent.