Former U.S. Sen. Mark Begich has announced creation of a new consulting firm, with a health care trade organization and an Alaska-based airline among his first clients.

The Alaska Dispatch News reports the Alaska Democrat announced Saturday that he has founded Northern Compass Group, which lists a physical address in Anchorage and mailing address in Washington D.C.

The announcement puts an end to speculation that Begich could enter the race for Anchorage mayor, a position he held before winning his single term in the Senate.

Begich lost his re-election bid for the Senate to Republican challenger Dan Sullivan in November.

Begich says he has been hired by the National Association for Home Care and Hospice and Grant Aviation.

He says he expects to announce employees and additional clients soon.

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