THE GEO GROUP
•Founded: 1984 (Then known as Wackenhut Corrections Corporation, a division of The Wackenhut Corporation. In 1994, WCC became a publicly traded company, and in 2003, the company rebranded to become The GEO Group.)
•2014 Total Revenue: $1.69 billion
•2014 Net Income: $143.9 million (65% of which is derived from US correctional and detention facilities)
•Manages: More than 66 correctional and detention facilities in the US, with more than 73,000 total beds
THE CORRECTIONS CORPORATION OF AMERICA
•Founded: 1983
•2014 Total Revenue: $1.64 billion (operates only within the US)
•2014 Net Income: $195 million
•Manages: More than 65 correctional and detention facilities in the US, with more than 90,000 total beds
FROM THE CORRECTIONS CORPORATION OF AMERICA’S 2014 ANNUAL REPORT:
“Our primary business strategy is to provide prison bed capacity and quality corrections services, offer a compelling value, and increase occupancy and revenue, while maintaining our position as the leading owner, operator, and manager of privatized correctional and detention facilities.”
“Our industry benefits from significant economies of scale, resulting in lower operating costs per inmate as occupancy rates increase. We are pursuing a number of initiatives intended to increase our occupancy and revenue. Our competitive cost structure offers prospective government partners a compelling solution to incarceration.”
