Rutherford, 58, a Republican from Pontiac, said, "Now is the time for leaders to act with conviction and courage. Through wise stewardship, we can eliminate our massive debt, fund our liabilities, build an environment that job-creators are seeking and provide financial security for taxpayers. Illinois is indeed broke -- but our great state is not beyond repair," the Chicago Tribune reported.
Rutherford, an Illinois State University graduate, was elected treasurer in 2010 after serving in the Illinois House of Representatives from 1993 to 2002 and as a state senator from 2003 to 2011, the Tribune reported.
Other Republican hopefuls for governor are state Sens. Bill Brady and Kirk Dillard and businessman Bruce Rauner, the Tribune reported.
Rutherford began a three-day tour through Illinois on Sunday that will include 13 stops, the newspaper said.