Flowers announces re-election campaign for treasurer

With a state portfolio returning more than $44 million during his term and showing positive returns 31 out of 38 months, Chip Flowers, Delaware state treasurer and co-chair of the National Democratic State Treasurers, officially launched his re-election campaign — “Standing Up for a Brighter Future” last week.

Flowers filed formal papers with the Delaware Department of Elections to seek the Democratic Party’s nomination to continue as treasurer.

Last month, Flowers released a report highlighting more than 35 achievements during his tenure, including White House recognition for innovative financial education initiatives, measures to protect the state’s portfolio during a challenging economic climate, and reduction of fees paid by the state’s investment banks by more than $400,000 per year.

In announcing his reelection bid, Flowers stated, “It is an honor and privilege to announce my intent to continue serving as Delaware’s state treasurer and co-chair of the National Democratic State Treasurers. Without question, the state treasurer’s primary responsibility is to manage and protect our state’s $2 billion portfolio. By standing up for change, the Treasury made over $44 million for Delaware, took major actions to protect our portfolio in a tough economic climate and showed that by rewarding merit and encouraging high performance, we can make a positive difference in the lives of the people of Delaware.”

Flowers, who is serving his first term as Delaware’s state treasurer, is also co-chair of the National Democratic State Treasurers, a position given to him by his colleagues, because of his work in the First State. Flowers holds a bachelor’s degree in economics from the University of Pennsylvania, a law degree and a master’s of business administration degree in corporate finance and strategy from Georgetown University and a master’s degree in public administration from Harvard University’s John F. Kennedy School of Government.

“We stood up for our state investments by making over $44 million and rewarding performance over political connections,” Flowers added. “We stood up for the honest way by advocating for open and competitive contracts and stricter financial disclosure from those managing our State funds. We stood up for financial education by creating the Delaware Economic Index, recognized by the White House for its innovative approach to providing economic data. We stood up for Delaware by protecting our $2 billion portfolio in tough fiscal times. We stood up for you.”

Prior to becoming state treasurer, Flowers founded and managed a small business that focused on mergers and acquisitions, procurement and corporate transactions. His political experience includes service at the White House Office of Political Affairs under President Bill Clinton, the U.S. Congress Joint Economic Committee and a delegate to the Democratic National Committee in 2004 and 2012.

Flowers, a self-described “military brat,” graduated high school overseas at Vicenza America High School in Vicenza, Italy, where his parents were stationed. Flowers resides in Middletown. Flowers gave his first-year after-tax salary to fund a fellowship for public service. He is also the first African-American elected to a statewide office in Delaware.

For additional information about Flowers’ re-election effort, visit www.chipflowers.com.