CHARLOTTE, N.C. -- The Republican National Committee hasn't set a date yet for the 2020 convention, but the Charlotte host committee and Republican Party are already gearing up for the big event.

• Committee has raised 10 percent of its $70 million goal
• In 2012 the Democratic National Convention host committee fell short
• Another priority is to recruit more than 5,000 volunteers

Committe CEO John Lassiter says he is running the RNC host committee like a business and the first priority is fundraising.

“Our focus is making sure we raise the funds as we need and have positive cash flow,” said Lassiter

The funds would cover transportation for delegates, facility fees and the day-to-day operations of the convention. So far, Lassiter says they've raised about 10 percent of its $70 million goal.

“There will be a lot of corporate entities both local, statewide and national who see the value in being part of a national political convention,” said Lassiter.

In 2012, the Democratic National Convention host committee fell short about $10 million from its fundraising goals and Duke Energy had to pick up the tab.

Lassiter said he feels confident that won't happen in 2020.                

“We've not built a contengiency in to be able to have any kind of loss. Our goal is to make sure we meet our goal and maybe have a little leftover to give back to Charlotte,” he said.

Another early priority will be recruiting more than 5,000 volunteers. The Mecklenburg County Republican Party says they've already gotten support from across the state and even from party leaders in South Carolina and Virgina.

“We've got business leaders here, young people that just moved here recently who just want to see Charlotte on the world stage and see this as a civic opportunity to serve the city and be apart of history,” said Chris Turner, chairman for the Mecklenburg County Republican Party

The city is also expected to receive a $50 million federal grant for security.