Republican U.S. Rep. Jim DeMint of Greenville took a major step Tuesday in his quest for the U.S. Senate, naming 11 top business and industry leaders as co-chairs of his statewide finance team.

Heading the list is Columbia attorney and businessman John Rainey, who played a key role in helping Gov. Mark Sanford raise money for his gubernatorial bid last year.

DeMint is seeking the 2004 GOP nomination for the seat now held by Democratic U.S. Sen. Fritz Hollings of Charleston, who hasn't decided whether he'll run again. The Senate contest is expected to cost between $6 million and $8 million.

Other members include Dean Anderson of Greenville, Barry Wynn of Spartanburg, Eddie Floyd of Florence, Bill Cassels of Columbia, June Bradham of Charleston, Gayle Averyt of Columbia, Mark Buyck of Florence, David King of Anderson, Martha Edens of Columbia and Jerry Dempsey of Greenville.

Many of them have been active in raising money for President Bush, U.S Sen. Lindsey Graham, former U.S Sen. Strom Thurmond and former Gov. Carroll Campbell.

"These leaders are the gold standard when it comes to raising money," DeMint said. "I'm delighted they are coming together to support my candidacy."

Myrtle Beach Mayor Mark McBride is the only other announced GOP candidate. Others considering it are former state Attorney General Charlie Condon and former U.S. Rep. Tommy Hartnett, both of Charleston.