Several components of Gov. Bev Perdue's JobsNOW small business package related to tech-based economic development efforts in North Carolina were approved in the FY11 budget signed into law on June 30. A program to provide matching funds for Small Business Innovation Research (SBIR) will see its budget more than double in the second year of the biennium and life science programs will receive more than $22 million in recurring appropriations. The enacted budget also extends to Jan. 1, 2013 the Qualified Business Investment Venture credit, which provides a capped incentive for angel investment in cutting-edge industry sectors. The governor had proposed raising the cap from $7.5 million to $10 million, a measure that was not included in the final budget.