State treasurer candidate Allen Alley (R-Lake Oswego) conceded a hard-fought race to Ben Westlund (D-Tumalo) Tuesday night.

“I want to congratulate Ben Westlund for his victory tonight, and I wish him well as he readies himself to manage the state’s financial portfolio through the difficult times ahead,” Alley said in a statement.

“As we look ahead, I see tremendous opportunities to create great jobs here in Oregon and in America. We are at a special moment in time where our social heart and our economic mind can unite to create an engine of prosperity for Oregon and the nation.”

Westlund, who had served on the rules committee of the Democratic National Convention at the personal request of Barack Obama, was still gushing over the result of the presidential race. But he also took the time to look forward to his new position in Salem, where he will hold one of the state’s three executive offices.

“Every once in a while, people have the opportunity to come together to do something great,” treasurer-elect Westlund said. “But this is not just about a great election. This is about the opportunity to govern greatly.

As for his former campaign rival, Westlund complimented Alley for running a competitive campaign.

“Allen ran a very spirited race,” Westlund said.

The state treasurer campaign had focused on who had the better resume for the office; Westlund the legislator or Alley the businessman. In the end, Westlund believed his argument for legislative experience being the right experience for the job brought voters over to his side.

“Every treasurer since 1965 has had legislative experience,” Westlund said, with the exception of one that served as secretary of state before state treasurer. “There is no question that legislative experience is a huge asset, particularly in this economic climate.”

Westlund will take over the job of the state’s chief financial officer from outgoing treasurer Randall Edwards.