It is owned and operated by Genesee & Wyoming, who acquired the railroad in the 2012 purchase of RailAmerica.

[2] The IORY's original line, acquired in 1985,[1] connected Mason and Monroe, Ohio.

The Indiana & Ohio Railroad (reporting mark INOH) merged into the IORY in 1997.

It had been formed in 1978 to operate a branch between Valley Junction, Ohio, and Brookville, Indiana.

The Indiana & Ohio Central Railroad (reporting mark IOCR) was the designated owner of these two lines until 2004.