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"NCRR gets no funds from NC.  They own the ROW and therefore get lease payments from CSX and NS.  NCRR owns the equipment used by the Piedmont and Amtrak owns the equipment used by the Carolinian." According to the 2012 Annual Report, NCRR received $2,004,821 from the North Carolina Department of Transportation for additions to property and equipment.  In 2011 the NCDOT paid $2,666,693 for additions to property and equipment.   In addition to the direct payments from the NCDOT, the company gets significant tax breaks from the federal and state governments.  As per Section 11146 of the Safe, Accountable, Flexible, Efficient Transportation Equity Act of 2005, a substantial portion of the company’s income is exempt from federal and state income taxes.   In 2012 the company completed three major construction projects, i.e. rebuild wooden trestles over Neuse River; improved corroding steel pipe piles on the railroad bridge over the Trent River in New Bern; and improved Eastern Grade Crossing protection on un-signalized or partially signalized grade crossings for 115 miles between CSX Junction in Selma and Morehead City to improve safety and speed.  The total cost of the projects was $8,954,930.  NCRR's share of the cost of these capital improvements was $3,511,822 or 39.2 per cent.  The Norfolk Southern Railroad (NSR) was the major partner on the first two projects; the NCDOT was the major partner on the third project.
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