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Correctional Services: Correctional Services Corporation
built 265 days ago
Correctional Services Corporation is a national leader in private corrections, providing a broad range of adult correctional facilities and services for federal, state and local governments. They have tailored programs to meet the requirements of a variety of inmate populations including male and female offenders, sex offenders, habitual offenders, drug and alcohol dependent offenders and offenders with special needs.
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In 1999 Correctional Services Corporation continued to pursue new contracts. For example, in Pacific, Washington, CSC sought a contract to build a $30 million detention center for the U.S. Immigration and Naturalization Service. The center was planned to house illegal immigrants from Mexico, Southeast Asia, and other areas for a short time. Reporter Aimee Green in a phone interview said CSC was conducting an environmental impact study due to be completed in 2000. The firm hoped to get the new contract and eventually replace its overburdened 150-bed facility in Seattle.
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Avalon Correctional Services is trading at a significant discount per bed to all of their publicly traded competitors. Though there is a more significant growth component to both Corrections Corporation of America and the Cornell Companies, the discrepancy in the price per bed between the companies is still quite large.
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In 1997 Correctional Services Corporation began planning to operate a new women's prison just east of Oklahoma City in McLoud, Oklahoma. The McLoud Economic Development Authority owned the property, while the Dominion Group built and leased the $20 million facility. This project involving two private firms, a government agency, and banks that provided the financing, illustrated the complexity of such private-public ventures.
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Correctional Services Corporation