Businessman Martin Skelly Enters Congressional Race

South Carolina businessman Martin Skelly is the latest candidate to enter South Carolina's First Congressional District race to replace Tim Scott.

The Charleston Democrat announced Friday that he has filed his paperwork with the South Carolina Democratic Party and that he has loaned his campaign $250,000 to make his bid successful.

“We live in the greatest country in the world, but our dysfunctional Congress is standing in the way of our economy,” Skelly said in a statement. “After witnessing this chaotic Congress – and hearing about too many businesses that won’t invest in our economy because of the dysfunction, I decided it’s time to do my part."

The son of Irish immigrants who borrowed money from their parents to get to America, Skelly found success running the private Russia-based investment group UFG Asset Management.

He paid for college with the help of student loans and by working any job he could get. After graduating, he worked as a teacher and non-profit director before working as an entrepreneur in London and Moscow.

"I know how to bring people together to solve problems, and that’s what we need in Washington more than anything else," Skelly said. "I am willing to roll up my sleeves and work with anyone—Democrat or Republican—who is interested in putting our country back to work and out of the red, instead of playing political games."

A married father of three, Skelly resides in West Ashley. In announcing his bid, Skelly disclosed he loaned his campaign $250,000.

He's joining what's shaping up to be a crowded field of Democrats seeking the congressional seat. There are even more candidates vying for the Republican nomination. See the complete list of candidates who are running and those who are considering a run.

Skelly's brother, Michael, a wealthy alternative energy executive, ran for Congress in Texas in 2008. The special election to replace Congressman Tim Scott will be held May 7.