U.S. venture capital investment hit $48.3 billion in 2014, its highest level since 2000, according to data from the National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PwC). Investments jumped 61 percent over the previous year in terms of dollars. Deals were up as well, but by a more modest 4 percent to 4,356 deals in 2014, indicating the growth of deal size and the presence of a number of “megadeals.” NVCA also noted that investments were dispersed throughout the country, with 160 U.S. metros receiving some venture capital.

This week, New York Gov. Andrew Cuomo released his proposed 2015-16 budget, including an extensive slate of economic development and innovation initiatives for the state. The governor unveiled his plans in a press conference outlining his 2015 Opportunity Agenda in lieu of this year’s State of the State address. Gov.

This week, governor’s in eight states released their budget proposals. Balanced budgets and fiscal austerity were undoubtedly emphasized by the governors, yet funding for STEM education and workforce development initiatives were increasingly popular.

Ernest Moniz, the U.S. Secretary of Energy, announced the creation of the Jobs Strategy Council (JSC), an initiative to develop a methodology for providing consistent, usable data measuring energy job growth and help align workforce development systems with the needs of the clean energy industries through partnerships with the private sector, community college systems, union apprenticeship programs, and other educational institutions.

The first wave of year-end 2014 data on U.S. venture investment painted a portrait of a resurgent capital market. Investment activity reached its highest level of activity in a decade, finally shaking off the stagnation of the Great Recession (see last week’s article). Within the data, however, there were some concerning trends.

The U.S. Department of Commerce announced a second round of the Investing in Manufacturing Communities Partnership (IMCP) competition. IMCP, a cross-agency initiative, coordinates federal investments behind long-term economic development strategies in manufacturing communities. The first four designee communities were announced in May 2014.

SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene the 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.

As the federal and state governments look for methods to support the creation and retention of well-paying science and tech (S&T) and manufacturing jobs, two recent reports have found that R&D tax credits play a vital role in helping keep domestic R&D-intensive firms resilient from economic downtowns and competition from emerging economics.

Governors in Maryland, Minnesota, and Florida proposed substantial funds to higher education in their budgets this week, with an emphasis on affordable education and expanded research capacity.

In a report released by the Commission on Entrepreneurship and Middle-Class Jobs at this year’s Milstein Symposium, a convening held at the University of Virginia’s Miller Center dedicated to restoring the American Dream, the authors deliberate the significant barriers to American entrepreneurship and postulate potential policy recommendations. Ultimately, the authors propose five ideas that they believe would help rebuild the American dream by promoting entrepreneurship:

The Department of Defense (DOD) released a federal funding opportunity (FFO) to establish the newest Institute for Manufacturing Innovation (IMI) focused on flexible hybrid electronics manufacturing. Administered by the Air Force Research Laboratory, the Flexible Hybrid Electronics is the seventh IMI to be established under the Obama administration and the fifth to be led by the DOD. Lead applicant eligibility is restricted to nonprofit organizations. However, applicants are encouraged to establish a regional consortium that includes members from academia, government and industry.

The Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) announced that it will combine three existing programs (Incubator, SolarMat, and SUNPATH) into the Sunshot Technology to Market Program – a new funding program to support startups and other for-profit organizations as they bring disruptive solar innovations to the market place. Historically, the three programs that comprise the new program were separated by stage of technology development.

New Texas Gov. Greg Abbott recently announced several planned changes for the state’s economic development efforts. The governor is restructuring a number of offices, including the Workforce Investment Council and Women’s Commission under the Director of Economic Development, to increase focus on job creation. Abbott also proposed the elimination of the state’s Emerging Technology Fund, and using the programs remaining balances to launch a new University Research Initiative.

Advanced industries employ just 9 percent of the U.S. workforce, yet produce about 17 percent of all U.S.

President Obama’s proposed FY16 budget would provide $25 million for the EDA’s Regional Innovation program, a key legislative initiative for the technology-based economic development community. The Regional Innovation Program was authorized under the American COMPETES Act and is designed to provide funding to support regional innovation activities. The program received its first funding of $10 million in FY14 after extensive work on the Hill by SSTI, its members and others.

On Monday, President Obama released his $4 trillion budget request for FY16. His proposal is again unlikely to find support in Congress, but serves as a useful guide to the administration’s priorities and a source of new ideas.

The U.S. is home to more than 28.4 million small businesses (less than 500 employees), employing over 56 million workers (approximately half of the nation’s workforce), according to a recently released a report entitled Small Business Profiles for the States and Territories, an annual analysis of each state’s small businesses.