Democrat Elissa Slotkin cinched the victory in Michigan's 8th Congressional District, marking a crucial win for Democrats nationally in a district that has been held by Republicans for nearly two decades.

Slotkin declared victory early Wednesday morning. With 98.1 percent of precincts reporting, Slotkin won 49.04 percent of the vote to incumbent Republican U.S. Rep. Mike Bishop's 48.26 percent of the vote. The Associated Press had not yet declared the race, although Bishop has conceded.

At her election watch party in Clarkston, Slotkin said she'd been told the 8th was an unwinnable race. Her field work, volunteers and dedicated campaign staff helped put her over the edge, she said.

"We can teach something to Washington about what we did on this campaign," Slotkin said. "They have no idea what's coming for them."

Addressing those in the 8th District who didn't support her campaign, Slotkin said, "It's my job to support you...I will do my level best to support the 8th District."

In a concession speech filmed by the Detroit Free Press, Bishop said the race didn't work out the way he had anticipated, but said he would work with Slotkin during the transition.

"I really do feel blessed in so many ways," Bishop said, thanking his family and his team. "To serve my country, to serve my community in the U.S. Congress has been a great thrill and a huge honor."

It was the race everyone was watching in 2018, and Tuesday's results lived up to the hype.

Michigan's 8th Congressional District, which incorporates Ingham, Livingston and parts of Oakland counties, has been a solidly Republican district for the last several election cycles.

This year, Slotkin flipped that presumption on its head, raising millions of dollars and challenging Bishop's record on health care, his unwillingness to participate in public town halls and more.

Slotkin, of Holly, served three tours in Iraq with the CIA before holding several positions with the U.S. State Department and the Department of Defense. Slotkin most recently served as a top adviser to two Secretaries of Defense on the Middle East, Europe and NATO, Russia, Africa, and the Western Hemisphere. She recently moved back to her family's farm in Holly after 15 years holding several intelligence and national defense posts during the administrations of Presidents George W. Bush and Barack Obama.

The race is on track to shatter existing campaign finance records in Michigan, with both the candidates and outside PACs supporting them pumping millions into campaign material and television ads.

Bishop was first elected to Congress in 2014. As a member of the House Ways and Means Committee, Bishop was an influential voice in tax reform discussions in Congress and supported the final legislation. Prior to his time in Congress, Bishop was the state Senate Majority Leader in the Michigan Legislature.