The U.S. Small Business Administration has named Steve Rosa, founder, president and chief executive officer of (add)ventures, in Providence, as the 2008 Rhode Island Minority Small Business Person of the Year.

He is among seven minority small-business owners, advocates and SBA lenders who will receive awards during the annual Minority Enterprise Development Week awards dinner Oct. 15 at the Crowne Plaza Hotel in Warwick.

The MED Week celebration, Oct. 14 to 17, is cosponsored by the SBA and the Rhode Island Hispanic American Chamber of Commerce. The event celebrates the achievements of small minority businesses and recognizes their contributions to the nation’s economy.

Rosa was nominated by Charles Newton, director of the Rhode Island Minority Business Enterprise Compliance Office. Rosa founded (add)ventures, a full-service advertising and public relations firm, in 1989 and expanded it into a multidisciplinary communications consultancy.

In addition to the awards dinner, the weeklong celebration includes free professional development workshops, a networking reception and a “matchmaker fair,” where small-business owners meet individually with federal, state, and local government agency representatives and purchasing agents from major corporations to discuss business opportunities. All events will be held at the Crowne Plaza Hotel

For more information about the Rhode Island Minority Enterprise Development Week activities, visit the SBA Web site at www.sba.gov/ri, or call (401) 528-4561.

Science council investing $1.4 million

The Rhode Island Science and Technology Advisory Council will invest another $1.4 million for research that promotes collaboration by the state’s academic and commercial institutions. “Rhode Island is committed to making strategic investments into its R&D platform and significant improvements to our innovation infrastructure,” says council co-chair Jeff Seemann, dean of the College of the Environment and Life Sciences at the University of Rhode Island. The investment program, started in 2006, supports research that represents discoveries likely to deliver value to Rhode Island’s citizens, has strong technology development and/or commercialization potential and is well-positioned to attract follow-up financing from federal agencies, corporations and/or foundations.

Brown professors to lead discussion

Brown University professors Peter Howitt, Ross Levine and David Weil will lead an economic roundtable discussion of the current economic situation, including the prospects for the $700-billion bailout plan in Washington. Members of the public are invited to pose questions during the discussion, presented by the economics department and the Departmental Undergraduate Group, set for 3 to 5:30 p.m. tomorrow at 101 Salomon Hall.

Electric Boat awarded Navy contract

The U.S. Navy has awarded the Electric Boat division of General Dynamics a $268-million contract modification to provide lead construction-yard services for Virginia-class nuclear-powered attack submarines. Under the modification, Electric Boat will maintain and update design drawings and data for all Virginia-class submarines, including technology insertions, throughout their construction and post-shakedown availability periods. In addition, Electric Boat will perform Virginia-class development and design studies. Initially awarded in October 2005, the contract has a total potential value of $443.4 million for work to be completed through September 2009.

New board member at Stanley Works

The board of directors of The Stanley Works, of New Britain, Conn., have announced the election of a new member, Patrick D. Campbell, 56, senior vice president and chief financial officer of 3M Co. Prior to his 2002 hiring by 3M, Campbell was vice president of finance in Europe for General Motors Corp., where he served in various finance-related positions during his 25-year career with the company. John F. Lundgren, chairman and CEO of Stanley, said, “We are pleased to have someone with Pat Campbell’s business knowledge and financial acumen join our board. His global experiences will contribute greatly to the future success of Stanley.”

Survey examines security, innovation

RSA, the security division of Hopkinton, Mass.-based EMC, has released the results of research initiatives that explore the relationship between information security and business innovation. The survey of nearly 200 top business executives and security professionals titled, “Innovation and Security: Collaborative or Combative,” showed that the majority of organizations believe creating an environment ideal for innovation is critical to staying ahead of the competition. However, survey respondents revealed that in spite of their best intentions, IT security risk is impeding business innovation. The study showed that 80 percent of those surveyed admitted that their organizations have backed away from new innovation opportunities because of information security concerns.

Embraer to open facility at Bradley

Embraer, Brazil’s manufacturer of executive jets and midsize commercial jets, is set to open a new $10-million Northeast service center at Bradley International Airport in Windsor Locks, Conn. The facility, which is nearly 48,000 square feet, is near the New England Air Museum and was to open after an inaugural ceremony yesterday featuring officials from the state, airport and company. Officials from Embraer and Bradley say more than 60 new jobs will be created at the center to service the company’s hot-selling new line of Phenom and Legacy executive jets.

Mass. AG appeals nuclear panel ruling

Massachusetts Attorney General Martha Coakley is appealing a decision by the federal Nuclear Regulatory Commission that affects the re-licensing of the Pilgrim Nuclear Power Station in Plymouth. Coakley had asked the NRC for greater consideration of the environmental impact of a possible attack on spent fuel storage facilities. But the agency denied her petition in August, saying her information wasn’t new and heavy security makes the risk of attack low. Coakley’s office appealed Monday, saying the NRC’s denial violated the National Environmental Policy Act. She said the NRC must prepare a supplemental environmental impact statement and give the public a chance to comment on steps the NRC has taken to prevent attacks on spent fuel storage facilities.

Vermont Yankee earns high marks

The Vermont Yankee nuclear plant in Vernon has won high marks in the results of an inspection by the federal Nuclear Regulatory Commission. The NRC said Friday it performed a once-every-three-years review called a “Component Design Bases Inspection,” and found just three minor areas on which to fault Vermont Yankee. The agency categorized all three as “green,” meaning they had “very low safety significance.” The NRC inspection is separate and distinct from the comprehensive audit of the plant demanded by the state legislature in preparation for its vote on whether Vermont Yankee’s license should be extended for 20 years beyond its currently scheduled 2012 shutdown date, said NRC spokesman Neil Sheehan. Plant spokesman Larry Smith said Vermont Yankee officials were pleased with the inspection results. The NRC said the inspection took three weeks in late July and early August and that the team spent 700 staff hours on it.

Ben & Jerry’s testing greener freezer

Burlington, Vt.-based Ben & Jerry’s ice cream company is introducing a cleaner, greener freezer for testing in the United States with the hope that it will eventually be approved for long-term use. The company launched a pilot project testing hydrocarbon-based freezers, which present great environmental benefits by minimizing the freezer’s impact on global warming. “This is an important step for our business, which we hope will clearly demonstrate that a more environmentally friendly refrigeration technology can work in the U.S. market,” said Walt Freese, Ben & Jerry’s chief executive officer.