I have a Visual Studio 2010 Ultimate installed on my local machine. I used it for c# development for quite some time.
Now I have a project for BizTalk development. When I click New Project I do not see the BizTalk project option.
What do I need to do to get BizTalk projects on my Visual Studio 2010 Ultimate?
You will need to download a version of BizTalk from Microsoft and install at least the developer tools and SDK. But usually you will want to do a complete install unless you already have a BizTalk Server you can deploy to for development purposes.
See this thread What do you need to develop in BizTalk