General Electric is moving its global headquarters from Connecticut to Boston.

GE Chairman and CEO Jeff Immelt said Wednesday that the Boston area has a diverse, technologically fluent workforce that fits with its aspirations.

"I know we’re talking a lot of talk about Powerball here in the country, and certainly today we won Powerball here in Boston, by having GE come here," said Boston Mayor Marty Walsh in a press conference Wednesday. "For two decades we’ve had companies move out of our city, and now we have people moving into our city, and I think that’s a big win."

Several states have been competing to lure the company from Fairfield since GE announced in June that it was unhappy about legislative tax proposals and thinking about a move.

Connecticut's General Assembly later passed a revised budget that scaled back some of the business-related tax increases, but GE continued hearing pitches from other states as it said it was seeking a more business-friendly home.

The company employs about 5,700 people in Connecticut, including 800 at its headquarters.