Dan Furphy, CEO of the Laramie Chamber Business Alliance, formally announced his candidacy for Wyoming House District 14 on Friday.

House Speaker Kermit Brown (R-Albany) currently occupies the seat, and plans to retire at the end of his current term.

Furphy, a Laramie native, graduated from both Laramie High School and the University of Wyoming. He worked in the banking industry for nearly 40 years, including time as the CEO of a multi-state banking organization.

Furphy hopes his extensive financial experience will be of value to the Wyoming Legislature as the state deals with declining revenues over the next several years.

"Working a for-profit business, I understand how you have to control expenses and watch your revenues very carefully," says Furphy. "So hopefully I can add value there."

Furphy also hopes to bolster the state's efforts to create jobs.

"We need to continue to diversity our economy and try to create jobs, other than just in the mineral extraction business," says Furphy.

Furphy has won county-wide elections to the Ivinson Memorial Board of Trustees, where served eight years including two as chairman, and the Laramie City Council, where he served one term.

Watch the video below to see where Furphy's stance on Medicaid expansion in Wyoming differs with that of many state legislators.