Governor of the Commonwealth of Massachusetts: 2003-2007
Known for his keen business sense and his ability to turn flailing enterprises into highly successful ventures, (Willard) Mitt Romney was faced with the challenge of turning the Commonwealth of Massachusetts into a fiscally responsible state.
Awarded his B.A with highest honors as valedictorian from Brigham Young University in 1971, Mr. Romney earned an M.B.A. and the title of Baker Scholar from Harvard Business School while simultaneously receiving his J.D. from Harvard Law School in 1975. He went on to serve as Vice President of Bain & Company, Inc, a Boston-based management consulting firm and founded Bain Capital which became one of the country's most successful venture capital investment companies.
In 1994, Mr. Romney lost to Senator Ted Kennedy for U.S. State Senator of Massachusetts, but established himself as a national political figure. He expanded this political recognition into national attention several years later by serving as Chief Executive Officer of the 2002 Olympic Winter Games held in Salt Lake City, Utah.
Later in 2002, Mr. Romney replaced then Governor Jane Swift as the Republican candidate for governor and was elected governor of Massachusetts in November, 2002. Governor Romney closed a 3 million budget deficit his first year in office without raising taxes. His top priorities in office were: education reform, establishing the John and Abigail Adams Scholarship Program which rewards top achieving high school students with four year scholarships to Massachusetts state colleges and universities; Melanie's Bill, which enforces strict penalties on repeat drunk drivers; lowering the unemployment rate by attracting and retaining businesses in Massachusetts; developing the Welcome Home Bill and Massachusetts Military Enhanced Relief Individual Tax Plan which provides National Guard members and veterans with enhanced benefits; and signing legislation to mandate that all citizens in the Commonwealth have access to quality healthcare.
Mr. Romney's term ended in January, 2007. He chose not to seek re-election. On February 13, 2007, Mitt Romney formally announced his candidacy for the Republican nomination for president in 2008.