Shortly after noon today and in front of approximately 1,500 people, Scott K. Walker became Wisconsin's 45th Governor ushering in the first Republican Administration in eight years. During his 15 minute address, Walker repeated several times the central theme of his convincing electoral last fall by declaring that "Wisconsin is Open for Business."

Walker also called for in his speech a special legislative session that would convene immediately to tackle one of the new Governor's cornerstone promises, which is to to get the state's economy moving again by creating 250,000 jobs in eight years.

Here are some major snippets of the Governor's Address (taken from WisPolitics.com):

 Walker pledged a "new and better Wisconsin that we build together" during his inaugural address in the Capitol rotunda, while promising to balance the state's budget without raising taxes, raiding segregated funds or "excessive" borrowing.

Walker didn't go into specifics on any cuts he would offer to balance the budget, promising "tough, but compassionate decisions." After finishing last year in a war of words with state employee union officials over their 2009-11 contracts, Walker invited his "fellow state workers" to join him in an effort to ``right-size government.''

"Under our administration, state government will do only what is necessary - no more, no less," he added later, according to prepared remarks.

Walker has previous pledged to propose an end to the state's tax on health savings accounts, an overhaul of the Commerce Department, a small business tax cut and tort reform as part of the special session that he was to call today. His office said this morning the specific bills weren't yet ready for public release.

During his address, attended by ex-governors, family members and other dignitaries, Walker frequently cited the Wisconsin Constitution and its history as he pledged to rein in the size of state government.

He also offered five pledges to the public:

- working to restore economic growth and vibrancy to the state. 

- right-size state government so it only provides essential services. "My fellow state workers, I invite you to partner with me in this necessary work," he said. 

- improve the education system to make students competitive in a global marketplace. 

- protect the state's natural resources. 

- honor and respect the foundational role of the family in our society.

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To read Walker's full speech, click here: