U.S. Rep. Paul Ryan, a Republican from Wisconsin, speaks to attendees in February 2011 of the Conservative Political Action Conference in Washington, D.C. (Photo courtesy of Gage Skidmore)

Republican presidential candidate Mitt Romney announced Saturday morning that he has chosen Wisconsin U.S. Rep. Paul Ryan as his vice presidential running mate, a move likely to energize conservative voters.

The announcement was made at a naval museum in Norfolk, Va., the first stop of a multistate bus tour.

"Ryan is the right choice to serve as Romney's running mate," said Chris Devaney, chairman of the Tennessee Republican Party. "Ryan has immense experience, including a knowledge and grounding on fiscal issues and the economy, something we are sorely lacking at Pennsylvania Avenue currently."

Ryan, who earned a bachelor's degree in economics and politic science from Miami University in Ohio, has become known for his fiscal conservativism as chairmain of the House Budget Committee in Congress.

The seven-term congressman is also a senior member of the House Ways and Means Committee, which has jurisdiction over tax policy, Social Security, health care and trade laws.

"Romney and Ryan will make a great team for the United States," Devaney said.