Jon Corzine (D-NJ) just delivered his concession speech to Governor-elect Chris Christie (R-NJ) moments ago, saying he's "proud of [his] administration" and he's "grateful to all" of New Jersey. Watch the video below.

The incumbent governor began his speech by recounting his concession call to Christie, who was "gracious in his response." Corzine said the two "will work hard together to make sure that the transition is smooth."

Corzine's loss was a bit of a surprise in today's election, given that this race was neck-and-neck until the end. Five polls on the New Jersey election yesterday were split, with Christie ahead in three and Corzine ahead in two. GOP candidate Bob McDonnell beat Democrat Creigh Deeds in the Virginia gubernatorial race handily earlier this evening.

Corzine heaped praise on his supporters, especially labor, a big ally for the governor: "Thank goodness for labor, you have been terrific, God bless you all," he said.

Though he remained upbeat and and doled out thank yous for much of the speech, he acknowledged that "there is some little sadness...it has been a tough time" before finishing with "to be the governor of this great state has been a joy that I could never, ever have imagined."

Corzine also re-emphasized campaign pledges, and roused the crowd by saying "it is important that we fight for health care."

He wrapped up with a joke, after thanking his wife and family: "By the way, my mom's pretty happy tonight. She's a registered Republican, so she'll probably think it's okay," he said. "She is 93 years old, though, so I think we'll move beyond it."