Arizona Corporation Commissioner Tom Forese tells 12 News he will announce Wednesday that he is running for state treasurer in 2018.

Current State Treasurer Jeff DeWit has announced that he will not run for a second term in 2018. DeWit is serving as volunteer chief operating officer of Donald Trump's presidential campaign while keeping his job as treasurer.

Forese, a Chandler Republican who served in the state Legislature, ran statewide in 2014 to win his seat on the Corporation Commission, which regulates the state's utilities.

“The role of the Arizona Treasurer needs to be more than just growing the state’s nest egg and managing its money," Forese said in a prepared statement.

“If elected Arizona treasurer, I will bring a focus on job creation and driving investment to Arizona. I have dedicated my career to doing that.”

Forese says in the statement that he is not required to step down as corporation commissioner and will continue in that job.

Under a change to Arizona's "resign-to-run" law enacted in 2013, elected officials can announce they are running for a new office, but don't have to resign until they file paperwork for the new office and are not in the final year of their term.

Forese's early announcement for 2018, before the 2016 election cycle is even complete, could position him for an appointment as treasurer by Republican Gov. Doug Ducey should DeWit resign after the election.

Ducey made the jump from treasurer to the governor's office in 2014.