LITTLE ROCK, Ark. – Just hours after a new tax levy championed by the mayor failed to pass with Little Rock voters, a local businessman has said he is launching a campaign to lead the city.

Steve Landers said the rejection by voters to Mayor Frank Scott Jr.’s “Rebuild the Rock” 1-cent sales tax plan shows that Little Rock needs new leadership and that he is the man for the job.

“Tuesday evening, the voters spoke about the future direction of our city, and I heard it loud and clear. It’s time for new leadership that will truly help people who need it most,” Landers said in a release announcing his candidacy. “I believe our city needs leadership that will keep our taxes as low as possible, be transparent with your tax dollars, spend our existing tax dollars wisely, and get tough on crime.”

After building the state’s largest automobile dealership group, Landers sold his shares in that business in 2014. He currently helps lead the Steve Landers Family Foundation supporting charities around the Little Rock area.

The announcement Wednesday confirms reports from August that Landers was eyeing a run for the mayor’s office.

Scott is currently serving his first term as mayor. Earlier this month Little Rock resident Greg Henderson also announced his intentions to run in 2022.

This is a developing story. Please check back for updates.