The treasurer’s office will be come open next year, because the incumbent, Richard Moore, is running for governor.

State Sen. Janet Cowell, a Democrat from Raleigh, said earlier today she would enter the race to replace Moore. Another Democrat, Raleigh businessman Chris Mintz, had already announced his plans to seek the Democratic nomination.

Folwell, a Winston-Salem Republican, said Thursday would make a formal announcement in about three weeks.

Folwell, 48, is in his second term. For a relative newbie in the minority party, he has been unusually successful in getting bills passed. For example, he sponsored the law that will have fewer 4-year-olds eligible to start kindergarten in a few years.

The former investment manager said he wants to be state treasurer because it's a position that plays to his strengths.

"Managing money is what I do best, and what I've always told people is focus on what comes easy to them and hard to other people."