GOP-presidential contender and former Massachusetts Gov. Mitt Romney picked up a key campaign endorsement Friday.  South Carolina Gov. Nikki Haley announced she is backing the former venture capitalist as he seeks the Republican nomination.

Haley made the announcement during an appearance on “Fox & Friends” Friday morning.

“Today is the day that I’m throwing all of my support behind Mitt Romney for president. “What I wanted was someone who knew what it was like to turn broken companies around,” Haley said.

She said that all of the GOP candidates, with the exception of Ron Paul, personally sought her endorsement.  The endorsement is big for Romney, who currently trails former House Speaker Newt Gingrich in the latest polls out of the Palmetto State.  Romney had a poor showing in the 2008 South Carolina primary, finishing fourth.

South Carolina hosts the first primary in a southern state.  A strong showing by Romney in South Carolina could mean a boost to his campaign in the South, an area whose Republican voters are traditionally conservative and religious.  Romney’s Mormon religion is seen as a negative to some of those voters.

A statement from the Romney campaign called Haley’s endorsement “an honor.”

“Governor Haley’s career-long efforts to reform government, make government more accountable to the taxpayers, and fight wasteful spending should be examples for leaders across the country. These conservative principles of smaller government are what I am fighting for in my campaign and will be the basis for restoring economic prosperity and fiscal health,” the statement said.

The endorsement comes at a time when Romney’s campaign is ratcheting up its attacks on rival Gingrich in Iowa, ahead of that state’s Jan. 3 caucuses and the day after the final debate before voters begin heading to the polls.