Profile: CoreCivic Inc (CXW)
24 Jan 2017
CoreCivic, Inc., formerly Corrections Corporation of America, incorporated on September 24, 1998, is a real estate investment trust (REIT). The Company is a diversified government solutions company. The Company acts to site, design, build, finance, own, maintain and lease assets to government partners. The Company provides services related to the ownership and upkeep of the asset, including maintenance services, utility management and insurance, and property tax management. The Company is engaged in owning, operating and managing prisons and other correctional facilities, and providing residential, community re-entry and prisoner transportation services for governmental agencies. In addition to providing fundamental residential services, the Company's facilities offer a range of rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment. It also provides or makes available to offenders certain healthcare (including medical, dental and mental health services), food services and work and recreational programs. Under the CoreCivic brand, the Company focuses on providing three business offerings: CoreCivic Safety, a corrections and detention management offering; CoreCivic Properties, which offers government real estate solutions, and CoreCivic Community, a network of residential reentry centers.
The Company provides a range of evidence-based reentry programs and activities at its facilities. In conjunction with the Mexican Government, the Company offers an adult education curriculum. The Company offers a spectrum of vocational/technical education opportunities to equip individuals with job skills. The Company offers evidence-based treatment programs, such as the Residential Drug Addictions Treatment Program (RDAP). Its Re-Entry and life skills programs prepare individuals for life after incarceration by teaching offenders how to conduct a job search, how to manage their budget and financial matters, parenting skills and relationship and family skills. The Company also offers cognitive behavioral programs aimed at changing anti-social attitudes and behaviors of offenders, with a focus on altering the level of criminal thinking of offenders. Its Victim Impact Programs are available at various facilities, which seek to educate offenders on the negative effects upon others resulting from their criminal conduct. The Company provides faith-based programs to those seeking spiritual growth and character development. Its facilities also offer opportunities for religious worship and study for a range of faith groups and belief systems.
The Company provides a range of services to defendants and offenders serving their full sentence, the last portion of their sentence, waiting to be sentenced, or awaiting trial while supervised in a community environment, through its community corrections facilities. The Company offers housing and programs, with a focus on employment, job readiness and life skills, in order to help offenders re-enter the community and reduce the risk of recidivism. It also offers an alternative sentencing option to the courts, which allows offenders employed to pay the cost of incarceration while serving their sentence in a community facility. In addition, in some of its community corrections facilities, the Company offers housing and program services to parolees having completed their sentence, but lack a viable home plan.
The Company's facilities include Correctional facilities, which house and provide contractually agreed upon programs and services to sentenced adult prisoners, typically prisoners on whom a sentence in excess of over one year has been imposed; Detention facilities, which house and provide contractually agreed upon programs and services to prisoners being detained by ICE, prisoners awaiting trial who have been charged with violations of federal criminal law or state criminal law and prisoners who have been convicted of crimes and on whom a sentence of over one year or less has been imposed; Community corrections facilities, which offer housing and programs to offenders who are serving the last portion of their sentence or who have been assigned to the facility in lieu of a jail or prison sentence, with a focus on employment, job readiness and life skills; Residential facilities, which provide space and residential services in an open and safe environment to adults with children who illegally crossed the United States border and are awaiting the outcome of immigration hearings or the return to their home countries. The residential facilities offer services, including educational programs, medical care, recreational activities, counseling and access to religious and legal services, and Leased facilities, which include the facilities that the Company owns but do not manage and that are leased to third-party operators. The Company leases approximately two correctional facilities and over four community corrections facilities to third-party operators.
The Company provides transportation services to governmental agencies through its taxable REIT subsidiary (TRS), TransCor America, LLC (TransCor). The Company owns or controls approximately 70 correctional and detention facilities, and manages over 10 facilities owned by its government partners, with a total design capacity of approximately 88,500 beds in over 20 states and the District of Columbia. Additionally, the Company manages approximately 10 correctional and detention facilities owned by government agencies. The Company also owns over two corporate office buildings. The Company's owned and managed facilities include facilities placed into service that it owns or controls through a lease. Its managed-only facilities include facilities it manages that are owned by a third party.
The Company competes with The GEO Group, Inc., and Management and Training Corporation.
10 Burton Hills Blvd
NASHVILLE TN 37215-6105
Company Web Links
- BRIEF-Corecivic extends contract for the McRae correctional facility
- BRIEF-CCA reports third quarter 2016 financial results
- BRIEF-Cca awarded new management contract at Cibola County Corrections Center
- BRIEF-Corrections Corporation of America rebrands as Corecivic
- BRIEF-Corrections Corp Of America sees q3 EPS $0.43 to $0.45