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The GEO Group, Inc. Message Board

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  • les_boob les_boob May 27, 2004 4:20 PM Flag

    Reason for decline

    Lets correct at least one mistake in the article. GEO does not own te prison in TX, they only manage it. The County still provides the workforce.

    Boca Raton, Fla. � March 10, 2004 -- The GEO Group, Inc. (NYSE: GGI) (�GEO�) announced today that Reeves County, Texas has entered into an agreement with a second governmental agency to house up to 864 inmates in Phase III of the Reeves County Detention Complex (RCDC). This second agreement follows an earlier agreement entered into between Reeves County and another governmental agency for the housing of between 2,025 and 2,200 inmates in Phases I and II of the RCDC. The second agreement for the housing of out-of-state inmates in RCDC Phase III guarantees a minimum average daily population of 778 inmates following a population phase-in period of approximately 10 weeks.

    GEO currently manages the entire 3,064-bed RCDC under an agreement with Reeves County while the employees remain on the County payroll. The RCDC is the largest privately-managed detention/correctional complex in the world.

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