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Knox Announces Plans To Run For Philadelphia Mayor

(Tom Knox, Credit: CBS 3)

(Tom Knox, Credit: CBS 3)

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PHILADELPHIA (AP) — Millionaire businessman Tom Knox says he plans to run for mayor of Philadelphia in 2015.

The former health care executive, who lost to Mayor Michael Nutter in a five-way Democratic mayoral primary in 2007, says he filed paperwork last week declaring his intention to run. Nutter is a two-term mayor barred by term limits from running for a third consecutive time.

In a statement Thursday, Knox says he is concerned about what he views as a stagnant city economy, high business taxes, gun violence and a troubled public school system.

He had briefly considered a gubernatorial run against Gov. Tom Corbett next year but recently announced he had decided against it.

Knox says he is contemplating a formal launch of his mayoral candidacy as early as next month.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)