It was founded in 2009, and it is located in Williams, Arizona alongside the Grand Canyon Railway.

Their goal is to construct a 21-acre museum to attract a world-wide audience with a collection of locomotives, rolling stock, and other historic artifacts.

The Arizona State Railroad Museum was founded in 2009 by a group of people with the intention of establishing heritage for the city of Williams' economy.

The foundation's chairman and CEO is Albert J Richmond, and their director and secretary is Donald Dent.

The foundation's goal is to construct a twenty-one acre museum ground adjacent to the Grand Canyon Railway's trackage near Interstate Highway 40.