His fundraising ability was underestimated during his 2015 mayoral comeback. His fundraising prowess has been once again questioned as he now runs for governor. But Mayor Joe Ganim reports that he has raised roughly $525,000 so far in his gubernatorial bid, an average of roughly $100,000 a month since his formal entry into the race. From whom he has raised it and where the campaign expenditures are being invested won’t be known until the campaign finance report is filed with the state elections office next week. The raw numbers show, however, when it comes to fundraising Ganim is a viable candidate.
If Ganim keeps up this fundraising pace he’ll have sufficient funds to compete with Democratic candidates who qualify for public financing for a presumed August primary for governor. Ganim, as a result of his public corruption conviction in 2003, cannot participate in Connecticut’s voluntary Citizens Election Program of publicly funded races. Gubernatorial candidates who meet the fundraising threshold will receive roughly $1.2 million in taxpayer dough for the primary.
Not all Democratic candidates in the primary will participate in the public financing arena. Wealthy Greenwich businessman Ned Lamont is self-funding his race.
Combined with funds raised in an exploratory committee, Ganim reports his campaign has raised about $525,000 with $333,000 campaign cash on hand. That means Ganim will show up at next month’s party convention for governor with likely more than $600,000 raised. The amount could make him more viable with delegates who will decide his ballot fortune. Ganim needs 15 percent delegate support to qualify for the primary ballot. If that fails, he plans to wage a petition drive that requires thousands of certified signatures.
Public financing candidates enjoy the advantage to campaign full time once they receive the public grant. Ganim must continue to raise funds as he campaigns around the state. Ganim can raise up to $3,500 per individual. If Ganim shatters the odds to become the Democratic standard bearer in November, he must continue to raise money while the Republican receives a public grant of roughly $6 million.
“Our fundraising has clearly surpassed expectations and shows the strong support our campaign is generating from Democrats who want a candidate who will build a new Connecticut economy that works for everyone–not just the few,” says Ganim in a prepared statement. “That begins by making our cities once again engines of economic growth. We are not going to tax or cut our way out of the state’s fiscal mess. To rebuild our state’s finances, we need to grow our economy and create good-paying jobs for everyone who wants to work. The people of Bridgeport have honored me by giving me a second chance–but too many Connecticut residents don’t even get a first chance to succeed. My campaign is about fighting for them, for those who feel their voices are not heard, and all who feel society have left them behind. My campaign is about reaching out to every neighborhood and town to build a better Connecticut that works for everyone.”