Milwaukee business leaders today hailed Gov. Jim Doyle's announcement that his capital budget will provide $240 million in total bonding over the next six years for University of Wisconsin-Milwaukee's building projects.

The funds will be used by UWM for its plans to build a new engineering campus in Wauwatosa, build a new School of Freshwater Science, renovate its Great Lakes Water Institute facility, build a new School of Public Health and construct an integrated research building.

According to UWM Chancellor Carlos Santiago, the first project for the Great Lakes Water Institute will be to renovate the existing research laboratory, located at 600 E. Greenfield Ave., and replace the Neeskay research vessel. The vessel, which has been in operation since 1970, is the only academic research vessel on the Great Lakes.

Doyle and Kevin Reilly, president of the University of Wisconsin School System, acknowledged today that their announcement advocates for investing in universities even while budgets are suffering.

"We cannot crawl into our beds, pull the covers up over our heads and say, wake me up when the storm is over," Doyle said. "This proposal is part of a good, strong, robust capital budget that will help people get to work."

Reilly stressed the importance of a "knowledge-based economy" being a catalyst for economic development to make Wisconsin stronger in the years ahead.

"UWM will not hunker down," Santiago said. "UWM will reinvent."

Today's announcement was greeted warmly by the leaders of the Greater Milwaukee Committee.

"The governor's announcement today is a significant contribution to Milwaukee's water cluster, which is a critical economic driver for our region's future," said Julia Taylor, president of the Greater Milwaukee Committee and treasurer of the Milwaukee 7 Water Council Board. "We're pleased to have this level of support and look forward to the significant returns this investment will bring to the entire Milwaukee region and the State of Wisconsin."

The Greater Milwaukee Committee is the main sponsor as well as fiscal agent for the Water Council and co-sponsor of Milwaukee 7. The concept of the Water Council originated from Rich Meeusen, chief executive officer of Badger Meter Inc., and Paul Jones, CEO of A.O. Smith Corp.

"This is a significant step in advancing an important vision for Milwaukee and UW-Milwaukee and we pledge to roll up our sleeves to work with all parties to help turn this plan into reality," said Meeusen, now the Water Council chairman. "Our region's water cluster already conducts $10.5 billion in annual business and accounts for approximately 4 percent of the water business worldwide. Today's announcement shows that we're opening our front door to the world."

Jone, the council's vice chairman, said, "The governor's action today demonstrates clearly that Wisconsin is serious about laying claim to make Milwaukee and Wisconsin into the world's hub of freshwater. We already have 120 water-companies, over 100 scientists and now, with the current Water Council initiatives underway and Gov. Doyle's announcement today, we're in an exciting position for the future."