The state Department of Rail and Public Transportation announced Tuesday that Elliston was chosen for the $18.6 million intermodal rail yard, after a two-year study.

State officials say the project will cut shipping time from Virginia port facilities to the Midwest by a day and a half. The yard will employ about 12 people .

inflation

wholesale prices rise at fast pace

WASHINGTON | Wholesale inflation soared in July, leaving prices rising at the fastest pace in nearly three decades.

The Labor Department reported Tuesday that wholesale prices shot up 1.2 percent in July, pushed higher by rising costs for energy and a variety of other products .

The increase was more than twice the 0.5 percent gain that economists expected and left prices rising over the past 12 months by 9.8 percent. That marked the biggest annual increase since the 12 months ending in June 1981 .

tax service

authority OKs sale of land

The Virginia Beach Development Authority on Tuesday approved the sale of 0.81 of an acre to tax-preparation chain Liberty Tax Service for a 30,000-square-foot expansion. The authority will sell the land for about $162,000. The authority also approved a $350,000 economic development grant for Liberty to build the facility, which will house the company's recently acquired online tax service.

- Josh Brown

retailer

circuit city still mulling sale

RICHMOND | Circuit City Stores Inc. said Tuesday it's still considering a sale of the company four months after the consumer electronics retailer first announced it was reviewing its options to improve shareholder value.

"T he board continues to pursue strategic alternatives for the company that offer the best possible results for our shareholders in the long term," Chief Executive Philip J. Schoonover said .

- From wire reports

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