"This project will not only bring jobs to the region, but will also reduce delays between New York, Washington, Raleigh and Charlotte by eliminating existing choke points," said U.S. Transportation Secretary Ray LaHood. "Our new plan ensures both freight and passenger railroads can thrive while improving service, creating a win-win situation for everyone."

The project includes installation of new track and ties, crossovers and signals to alleviate rail congestion in this area and allow freight and passenger rail traffic to move more fluidly. These improvements will create more locations where freight and passenger trains can pass one another. The line connects with the future Southeast High Speed Rail Corridor in Petersburg and Raleigh, where trains will travel at 110 mph in the future.