Citing business obligations, Harry Haytayan (R-Nashua) has decided not to run for the state senate.

Rumors were circulating that Haytayan would run for the seat now held by state Sen. David Gottesman (D-Nashua).

Gottesman is retiring and Peggy Gilmour (D-Hollis) has announced she will run for the seat.

Former state Rep. Paul LaFlamme is now considered the leading Republican candidate to run against Gilmour.

"After careful consideration, I have concluded that my business commitments will not allow me the time required to conduct an effective senate campaign," Haytayan said in a statement. "Nor would these current obligations allow me the time required to effectively serve the citizens in the district if I were elected.  I have therefore decided not to seek the state senate seat in Senate District 12 in the 2008 election."

Haytayan said he was "humbled" by the attempts to get him to run.

"I wish to thank all my supporters and those who encouraged me to once again seek public office. I am humbled by their confidence and their trust in me. There will be other campaigns when the timing of the decision to run is less sudden and when my business commitments are more manageable."