Mike Matson, who had considered running for Iowa governor, has now thrown his support to Fred Hubbell, one of seven Democrats running for the party's nomination for the job.
The Hubbell campaign announced the endorsement Wednesday.
Matson, a Davenport alderman and retired Army veteran, had toured the state for several weeks while contemplating a bid, but he dropped out about a month ago, citing doubts about his ability to raise enough money.
“I’m endorsing Fred because he has the experience to fix our budget mess and re-invest in priorities like healthcare and education," Matson said in a statement distributed by the Hubbell campaign.
Hubbell is the former head of Equitable of Iowa, a life insurance company, and the Younkers department store chain. He also has been interim director of the Iowa Department of Economic Development.
Hubbell, like other Democrats in the race, has been critical of how tax incentives for businesses are being handled in the state, including the assistance approved for a data center to be built by Apple in the Des Moines area.
Matson echoed that criticism Wednesday and said he had confidence Hubbell would "get us back on track."
In his own statement, Hubbell said: "Mike Matson has dedicated his life to serving our country and improving his community. I am honored to have his support and look forward to working with him to get Iowa growing!”