Rep. Virginia Foxx (R) has announced she won't run against Sen. Kay Hagan (D-N.C.) in 2014.

"The encouragement I’ve received to enter the race to become North Carolina’s next United States senator is truly humbling," Foxx said in a statement. "But I already have the best job in North Carolina."

So far, the leading candidate on the GOP side is state House Speaker Thom Tillis, but he has faced some tough headlines and didn't get off to a fast start on fundraising.

State Senate President Phil Berger (R) also is looking at the race. Rep. Renee Ellmers (R) has said she will not run.

Hagan is considered a top target in a swing state.