After considering a run in the increasingly crowded Democratic primary for lieutenant governor, State Auditor Hector Balderas announced Monday that instead he'll seek re-election to his $85,000 a year job.

"I have chosen to take a stand and fight against public corruption, conflicts of interest, and unaccountable governments and officials," Balderas said in a written statement. "With just 30 brave employees and one of the smallest budgets in the state, we have created an expectation and a reality that New Mexico will have an independent voice to speak on behalf of taxpayers and on the real conditions of our government."

Balderas, 35, is a lawyer and former state legislator from Wagon Mound. No other candidates for auditor have come forward.

His announcement came at a time when speculation is heavy that State Democratic Party Chairman Brian Colón will resign his position to run for lieutenant governor. "I can confirm that I am taking a close look at the opportunity," Colon told a reporter Friday.

Announced candidates for lieutenant governor include Santa Fe County Sheriff Greg Solano, state Sens. Jerry Ortiz y Pino and Linda Lopez, both from Albuquerque. Mid-Region Council of Governments executive director Lawrence Rael also is considering the race as is political newcomer Matthew Padilla, a former aide to U.S. Sen. Jeff Bingaman.

Balderas is known to be politically ambitious. Last year at a campaign rally for Barack Obama, Gov. Bill Richardson introduced Balderas as a "rising young Hispanic star."

When Tom Udall announced in 2007 that he would run for U.S. Senate, Balderas considered running for Udall's House seat. Balderas was one of the top names being floated for lieutenant governor last year when Lt. Gov. Diane Denish was preparing to take over as governor after Richardson was nominated by Obama for a Cabinet position. That move never happened because Richardson withdrew his nomination because of a grand jury investigation.

Earlier this year, Balderas and Attorney General Gary King, also a Democrat, tangled publicly. Balderas is investigating whether King is properly spending money set aside by the Legislature for an task force on animal cruelty prevention. Earlier, King's office had subpoenaed investigation logs and other documents from Balderas, which the auditor and his lawyers said was "far broader than a fishing expedition" and have declined to comply.

Reporter Kate Nash contributed to this story. Contact Steve Terrell at 986-3037 or sterrell@sfnewmexican.com.