North Carolina Senate President Calvin Graves cast the deciding vote, ensuring that the railroad would be built, but ending his political career because it would not pass through his district.

In 1854, the railroad's first president, businessman John Motley Morehead, dubbed the rail line "the tree of life" for the state.

In 1858, the Atlantic and North Carolina Railroad was completed, opening 96 miles (154 km) of rail between Goldsboro and Shepard's Point, now Morehead City.

In 1998, one year before the establishment of the new lease with Norfolk Southern, the State of North Carolina agreed to buy out the remaining 25% private shares of NCRR stock.

Other improvements made by the NCRR since 2001 include rail and bridge upgrades between Raleigh and Morehead City, NC, at a cost in excess of $60 million.

In 2010, the Company completed commuter rail investment and ridership studies for the segments between Goldsboro and Greensboro, through Raleigh.

In 2005, in counties bordering NCRR tracks, industries using rail freight services accounted for $143 billion in output, more than 24% of North Carolina’s total economy.