Norborne was founded in 1868 by Norborne B. Coates, a civil engineer for the railroad. The town has numerous small businesses, but is mostly an agricultural community. Norborne is the self-proclaimed Soybean Capital of the World and holds the Soybean Festival every year during the weekend of the second Saturday in August. The Festival begins on Thursday evening and concludes on Saturday night.
The traditional Soy Bean Festival will not be held in 2011 due to flooding.