HARTFORD, Conn. (WTNH) – State Treasurer Shawn Wooden announced on Thursday that he will not be running for re-election.

He said he would not be seeking re-election due to wanting to spend more time with his family.

In a statement Wooden said, “As a father, I’ve sacrificed countless hours, missing everything from basketball games and track meets to family dinners. With one of my sons going to college soon and the other right behind him, I’ve decided not to seek re-election as Treasurer.”

The 48-year-old is the only elected African American treasurer in the nation.

During his time as treasurer, Wooden has focused on divesting from civilian gun manufacturers, restricted the teachers’ pension fund, secured major credit rating upgrades, paid down the state’s pension fund liabilities, and much more.

He also passed the first in the nation Baby Bonds program to lift children out of poverty.

Gov. Ned Lamont (D) released a statement following Wooden’s announcement, saying:

Treasurer Wooden has been a great partner to my administration in helping get Connecticut’s fiscal house in order, stabilizing our financial future, borrowing in a responsible manner that reduces spending, and making consistent payments to decrease our state’s long-term fiscal obligations. Together, we’ve helped bring a financial turnaround in Connecticut that has resulted in multiple credit rating agency upgrades. I appreciate his partnership in righting our fiscal ship, and I wish him and his family nothing but the best in their next endeavors.

Gov. Ned Lamont

This is the third constitutional office to open up going into the November election. Republicans see an opportunity, while Democrats are confident they will prevail.

“This is going to be a difficult year for Democrats. We see that in the polling. We see that in the attitudes of voters. And as such, sometimes people decide that there are other things in life they’d rather do than spend seven or eight months going and eating rubber chicken and going to march in parades,” said Republican State Party Chairman Ben Proto.

“Well, I disagree with that. If you look at what the polls have shown, in fact, the national gubernatorial polls show that Ned Lamont was the most popular Democratic governor in the country. He was behind a few, but he was in the top ten,” said Democratic State Party Chairman Nancy DiNardo.

There is a Republican candidate for state treasurer — State Rep. Harry Aurora from Greenwich. Aurora is an investment manager in the energy sector.

Party conventions are in one month. Democrats will have theirs at the Xfinity Theatre in Hartford and Republicans will have theirs at Foxwoods Resort Casino.