CoreCivic announces management contract at Adams County Correctional Center
CoreCivic announced that it has entered into a new contract under an Intergovernmental Agreement between Adams County, Mississippi and Immigration and Customs Enforcement at CoreCivic's 2,232-bed Adams County Correctional Center in Adams County, Mississippi. The new management contract commenced on August 29, 2019, and has an initial term of 60 months, with unlimited extension options thereafter upon mutual agreement. Either party may terminate the contract with 120 days' written notice. Among other standards, the contract requires compliance with ICE's Performance-Based National Detention Standards, the American Correctional Association standards for Adult Local Detention Facilities, and standards for Health Services in Jails, National Commission on Correctional Health Care. The Company was already caring for approximately 600 adult ICE detainees at the Adams County facility under an amended contract with the Federal Bureau of Prisons that expired on August 30, 2019, and anticipates ICE will begin utilizing additional capacity at the facility under the new contract. Upon normalized utilization of the Adams County facility the new contract is expected to generate approximately $50M to $60M in annualized revenue.