The thirty year anniversary of the founding of the Corrections Corporation of America marks an all-time high for the for-profit prison industry. An increase of immigration- and drug-related arrests have contributed to the growth of the CCA in recent years. But according to their latest 10-K, an annual performance report provided to the Securities and Exchange Commission, their profitability is threatened by many factors:
“Legislation has been proposed in numerous jurisdictions that could lower minimum sentences for some non-violent crimes and make more inmates eligible for early release based on good behavior. Also, sentencing alternatives under consideration could put some offenders on probation with electronic monitoring who would otherwise be incarcerated. Similarly, reductions in crime rates or resources dedicated to prevent and enforce crime could lead to reductions in arrests, convictions and sentences requiring incarceration at correctional facilities.”
The CCA speaks just as candidly about areas in which to capitalize. In a presentation to investors last year, the CCA attributes current economic factors in creating a “unique investment opportunity.” Increases in law enforcement and funding (due to recovery from the recession), high rates of recidivism (repeated imprisonment), and acquisition of government-owned correctional facilities are all cited as reasons for anticipated growth.
Continue Reading @ IVN
- Lake Erie Correctional Institution, Ohio Private Prison, Faces Concerns About ‘Unacceptable’ Conditions (huffingtonpost.com)
- The Prison Industry in the United States: Big Business or a New Form of Slavery? (globalresearch.ca)
- Inmates claim private Idaho prison falsifies staff logs (oregonlive.com)