Updated: 3:54 p.m.

Former Prince George’s County State’s Attorney Glenn Ivey has decided not to challenge Rep. Donna Edwards in the Democratic primary in Maryland’s 4th district.

In a statement, Ivey cited financial woes as the reason behind his decision.

“With the April 3rd primary fast approaching and the ever increasing costs of Congressional campaigns sky-rocketing; it would take a very substantial amount of money to get my message out to voters in two very expensive media markets,” Ivey said. “A tough economy and a compressed election time-frame have made it tough for my campaign to raise enough funds to move forward.”

Ivey was perceived as a formidable opponent to Edwards after he announced his decision to run last year. In November, Edwards’ campaign released an internal poll that showed her with an early lead. Maryland political watchers eagerly anticipated the campaigns’ fourth-quarter fundraising reports, a good barometer of how the candidates are faring. 

Although Ivey’s campaign would have put some Democrats in an awkward position, Edwards became a cause célèbre among national liberal groups such as the Progressive Change Campaign Committee, the Daily Kos and others. 

This is the second Democratic contender to shy away from running against Edwards. Anne Arundel County Councilman Jamie Benoit decided not to run in early December. 

The Maryland filing deadline is at 9 tonight. Ivey had yet to file.

The 4th district was expected to be one of two banner Congressional races in the state. Ivey’s decision means that Edwards is all but assured of winning re-election in this safe Democratic seat. Attention will now shift to Maryland’s 6th district race, where Rep. Roscoe Bartlett (R) is extremely vulnerable following redistricting.