Gov. Rick Snyder signed a bill authorizing $300 million in spending at Michigan universities today, including a $30 million allocation for the new engineering building at Oakland University, the Detroit Free Press reports.

The money will help finance a $74.6 million engineering school, which will be the new home for the School of Engineering and Computer Science.

“We are extremely grateful that funding for the Engineering Center is included in the capital outlay bill, as we believe it will help expand our highly skilled workforce, advance research and foster technological innovation that will fuel the development of a 21st century economy in Michigan,” OU President Gary Russi said.

“The allocation of this funding demonstrates that the state not only sees the wisdom in investing in higher education, but also acknowledges the exceptional work being done by the Michigan’s universities and colleges.”

The 127,000-square-foot building, which will include five levels and a penthouse, will be constructed in the area between Dodge Hall and Elliot Hall. The plans were approved through the architectural firm SmithGroupJJR in 2011.

Groundbreaking for the building is set to take place in fall 2012.

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