Ending more than a year of speculation, Los Angeles Mayor Eric Garcetti announced this week he has decided against a bid for the presidency in 2020.

“I realize this is what I am meant to do,” Garcetti said at a City Hall news conference on Tuesday. “This is where I want to be. And this is a place where we have so much exciting work to finish.”

He said he also believes that “whenever possible, you should finish the job you set out to do.”

Garcetti was reelected to a second term in 2017 in a landslide and has been openly exploring a potential presidential run ever since through a number of political trips, including visits to Iowa, New Hampshire and South Carolina. But with a likely Democratic field that political experts estimate will reach more than 20 contenders, Garcetti chose to stay at City Hall for the time being.

He said he was encouraged by the people who have already thrown their hats into the ring.

“Each of them share my belief in a more United States of America,” he said.

Until as recently as last week, Garcetti acknowledged to reporters he was still thinking of running.

“I think we have a TV reality star as president. We had our first African-American president,” Garcetti told CBS News on Jan. 24 when asked about the potential of being the first mayor to jump right into the White House. “The time for obviously trying new things —in both positive and sometimes negative ways —is upon us. I don’t think it’s about your resume anymore.”