Aamer Madhani

USA TODAY

CHICAGO — Chris Kennedy, an Illinois businessman and the son of the late Robert F. Kennedy, announced Wednesday that he will join the Democratic race for governor in Illinois.

Boston-born Kennedy, 53, moved to Illinois 30 years ago and is leading a major real estate development in Chicago. He said he hopes to oust Republican Bruce Rauner, who is up for re-election in 2018.

The son of the former attorney general and nephew of President John F. Kennedy co-founded and runs Top Box Foods, a hunger relief non-profit organization. He serves as chairman of Joseph P. Kennedy Enterprises Inc., the Kennedy family's investment firm, and previously served as chairman of the University of Illinois Board of Trustees.

Rauner, a wealthy former venture capitalist, poured $50 million into his campaign coffers late last year, and gave nearly as much to fellow Illinois Republicans in 2016.

State Democrats have been searching for a high-profile, and perhaps independently wealthy, candidate to take on the deep-pocketed Rauner in what is expected to be an expensive race.

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In a video posted on YouTube announcing his candidacy, Kennedy did not mention Rauner by name but flashed photos of the governor along with news headlines about the state’s growing budget crisis. He lamented the “growing despair” and “bewilderment” in Illinois, which is mired in billions of dollars of debt.

“I’m running for governor because I believe the state is headed in the wrong direction,” Kennedy said. “I believe in working with others, not telling them what to do.”

Illinois has been without a full-year budget since July 2015 as Rauner and the Democratic-controlled Legislature remain at an impasse over how to close budget shortfalls leftover after former governor Pat Quinn’s administration passed temporary tax increases.

Illinois owes about $130 billion to its state workers pension plans but holds less than 40% of what’s needed to cover promised benefits.

Rauner refuses to approve a budget unless Democrats agree to a series of reforms, including freezing property taxes, imposing legislative term limits and weakening collective bargaining rights for union members.

The Illinois Republican Party slammed Kennedy as someone who would be bound to Illinois House Speaker Mike Madigan. The leader of Illinois Democrats, who has battled with Rauner, last year said he thought Kennedy would make an “excellent candidate.”

"We need a governor who will fight for reform, not another Mike Madigan-first politician," Illinois Republican Party spokesman Steven Yaffe said in a statement.

Billionaire venture capitalist and Democratic donor J.B. Pritzker, U.S. Rep. Cheri Bustos and state Sen. Andy Manar also are mulling bids to take on Rauner. Chicago Alderman Ameya Pawar already has announced he will seek the Democratic nomination.

Follow USA TODAY Chicago correspondent Aamer Madhani on Twitter: @AamerISmad