Business

Gasoline prices have shot up about 12 cents a gallon in recent days in Virginia, raising fears that pump prices will continue to escalate in the wake of ongoing turmoil in Libya and North Africa.
Political unrest in that region is unnerving traders in future markets across the globe, causing the trading floor to roil.
Leap-frogging another $14 since last Friday, crude oil futures reached about $100 a barrel in trading Wednesday on the New York Mercantile Exchange.

Galax City Council, the Grayson County Board of Supervisors and the Blue Ridge Economic Development Authority have entered into a revenue-sharing agreement for the Blue Ridge Crossroads Commerce Park.
The 26-acre site, formerly known simply as the Hampton property, is located partly in Galax and Grayson County. Development at the site, to prepare it for tenants, has been ongoing for nearly a decade.
The new agreement sets Galax and Grayson as partners in the project with 1,500 shares each and calls on BRCEDA to assist in managing the project.

RICHMOND — When Gov. Bob McDonnell testified before a congressional committee in Washington last week about Virginia's efforts to rebound from the national recession, he focused on entrepreneurs and small business.
"I firmly believe it is the entrepreneur who makes businesses grow and prosper — not the government," he said.
He called small businesses "the backbone of our economy."
But McDonnell has placed government aid front and center in his campaign to reinvigorate the state's economy.