Corrections Corp. of America has been awarded a 750-inmate management contract by the state of Arizona that will boost the number of prisoners under its care by about 1 percent.

Nashville-based CCA will house the prisoners at one of its facilities in Colorado. The agreement is for one year and comes with four possible one-year extensions. Based on CCA's average daily revenue for 2008, the contract is worth about $15.6 million at full capacity.

The deal is CCA's second with the state of Arizona. In May 2007, the state awarded the company a contract to manage up to 2,160 of its prisoners.

Shares of CCA (Ticker: CXW) closed Wednesday trading up 3.9 percent at $11.38. Year to date, they're down about 30 percent.