State officials in Idaho and Oklahoma have signed contracts to have Corrections Corp. of America manage an extra 1,000 inmates for them, an increase of more than 20 percent.
The Idaho Department of Correction, for which CCA already manages more than 2,000 inmates, will soon begin shipping the first of 800 more prisoners to a CCA facility in Colorado. Oklahoma officials have extended their contract with Nashville-based CCA, adding 240 inmates to its count of almost 2,300 at two facilities.
"We are grateful for the opportunity to expand our relationship with the Idaho Department of Corrections and the Oklahoma Department of Corrections, both long-time, valued partners," said President and CEO Damon Hininger. "Additionally, we are pleased that the utilization of both of these facilities will be increased to a more efficient operating level in the near term."
Shares of CCA (Ticker: CXW) were up slightly late Monday morning to almost $30. Year to date, they've climbed more than 40 percent.