Power Technology Inc. of Little Rock has been named 2008 Arkansas Business of the Year by the journal Arkansas Business. The company, which makes lasers used in scientific, biomedical and industrial applications, was chosen from among 130 Arkansas businesses and organizations that have shown exceptional growth and success in 2008. Winners were named in seven categories; Power Technology won in Category II (26 to 75 employees). The award is in its 21st year and is one of the state’s premier business achievements. The awards were announced during a formal banquet held Feb. 24.