Prospective presidential candidates tend to launch PACs to pump money into campaigns of people who might prove helpful. Los Angeles Mayor Eric Garcetti is starting a nonprofit with other mayors, union leaders and business executives to fund what they call innovation investments around the country.

Called Accelerator for America, the group will hold its first meeting Nov. 7 and 8 in South Bend, Indiana, timed to coincide with the anniversary of last year’s election. The second meeting is already booked for February, in Columbia, South Carolina.

Garcetti announced on Sunday that, as expected, he wouldn't run for governor of California in 2018, writing on Twitter, "I am passionate about my city and my family; both are here in Los Angeles." But skipping a statewide run now clears him to continue his exploration of national politics — reelected earlier this year, his second term will now last five and a half years due to a change in the election schedule, through 2022.