The GEO Group Announces Contract for Civil Detention Center in Texas

The GEO Group GEO announced today that Karnes County, Texas has been awarded an Intergovernmental Services Agreement by U.S. Immigration and Customs Enforcement for the housing of up to 600 immigration detainees in a new 600-bed Civil Detention Center to be located in Karnes City, Texas. The Center, which will be developed and operated by GEO pursuant to a subcontract between the County and GEO, will be the first facility designed and operated for low risk detainees. GEO will finance, develop and manage the $32.0 million company-owned Facility, which is expected to be completed during the fourth quarter of 2011. GEO's management contract with the County is expected to generate approximately $15.0 million in annualized revenues.