All articles tagged with #corecivic
Leavenworth, Kansas, a city historically known for its corrections industry, is embroiled in a legal and political dispute over plans to establish a privately operated ICE detention center, with city leaders suing the operator CoreCivic due to safety concerns and local zoning issues, amid broader national debates on immigration and incarceration.
Private prison stocks, particularly Geo Group and CoreCivic, are experiencing a surge due to expectations of increased business from Trump's promised immigration crackdown. Geo Group's stock has risen 67% since Election Day, while CoreCivic's has increased nearly 65%. This mirrors a similar trend from the early days of Trump's first administration, although both stocks currently trade below their early-2017 highs.
The Trump administration's tough stance on illegal immigration could benefit private prison companies like CoreCivic and Geo Group, which contract with ICE to detain undocumented migrants. Following Trump's election win, both companies saw a surge in stock prices, anticipating increased demand for detention facilities. During Trump's first term, immigration detention reached record levels, with private prisons housing 81% of ICE detainees by January 2020. The companies are preparing for potential expansion, contingent on congressional funding, as Trump plans a significant deportation operation.