MADISON, Wis. -

Republican businessman Eric Hovde said he won't decide on whether to run for the U.S. Senate for another six to nine months.

Hovde told The Associated Press on Thursday that "I still haven't figured out yet" whether he wants to run for the Senate in 2018. Hovde came in second in the Republican primary race for Senate in 2012 behind former Gov. Tommy Thompson.

Democratic Sen. Tammy Baldwin is up for re-election in 2018. In addition to Hovde, Republican U.S. Rep. Sean Duffy, of Wausau, is also considering running.

Hovde said it's difficult at this point to make a decision about whether to commit to a Senate run that will take a year or more. Hovde is chief executive officer of Hovde Properties, a real estate development and management company.