A wealthy Republican businessman is entering the 2010 race against Rep. Chet Edwards (D), who has beaten back repeated GOP attempts to unseat him in a strongly conservative area of central Texas.

Bill Flores, the chief executive officer of Phoenix Exploration Company, will announce Wednesday afternoon that he’s running in Texas’ 17th, which includes Waco, College Station and Bryan.

Flores recently sent an e-mail to friends and county party officials informing them that he is retiring from his current position to concentrate on running for Congress.