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State Senate President Tim Bee will announce Saturday that he is running for Congress, the Arizona Daily Star has learned.

The decision ends more than a year of speculation that Bee would be the Republican challenger against Democratic U.S. Rep. Gabrielle Giffords in Congressional District 8.

And it also signals the beginning what is likely to be a nationally-watched race.

The announcement will take place Saturday at 10:30 a.m. at Palo Verde High School, where Bee was valedictorian of his senior class, Bee’s campaign manager Meg Econ told the Star today.

A Sierra Vista event will follow later in the day, around 3 p.m., Econ said.

“We spent many months exploring, talking to voters, he reached out to the grass roots,” Econ said. “He’s been overwhelmed by the response to taking a good hard look at this race.”

In August, Bee formed an exploratory committee, and since then Econ said Bee has raised “well over $300,000.” Official figures will not be made public until next month.

Giffords, who won the seat formerly held by Republican Jim Kolbe in 2006, had raised nearly $1.2 million by the end of September.

“We’re not under any illusions,” Econ said. “We know what we’re up against.”