General Electric Co., one of the most storied names in corporate America, said Wednesday it will relocate its global headquarters to Boston.

The decision marks the end of a high-stakes competition to woo GE from its longtime campus in suburban Connecticut, besting New York, Providence, and other cities, and further solidifies the region’s reputation as a magnet for innovation.

GE said it will have roughly 800 people in Boston: 200 from corporate staff and 600 digital industrial product managers, designers and developers split among various divisions.

It’s a major victory for Governor Charlie Baker and Mayor Martin J. Walsh, whose aides worked closely together for several months to lure GE to a city that has seen many of its biggest companies swallowed up by out-of-town buyers, and a state that has labored hard to shed the “Taxachusetts” label pinned on it during the 1970s.....