CoreCivic

CoreCivic, formerly the Corrections Corporation of America (CCA), is a company that owns and manages private prisons and detention centers and operates others on a concession basis. Co-founded in 1983 in Nashville, Tennessee by Thomas W. Beasley, Robert Crants, and T. Don Hutto, it received investments from the Tennessee Valley Authority, Vanderbilt University, and Jack C. Massey, the founder of Hospital Corporation of America.

CoreCivic, Inc.
Company typePublic
Traded as
NYSE: CXW
S&P 600 component
IndustryPrivate prisons
FoundedNashville, Tennessee, U.S. (1983)
FoundersThomas W. Beasley
T. Don Hutto
Robert Crants
Headquarters
Brentwood, Tennessee
,
U.S.
Area served
United States
Key people
Mark A. Emkes
Chairman
Damon T. Hininger
president & CEO
Revenue $ 1.981 billion
$ 281.56 million
Net income
 $ 188.89 million
Total assets$ 3.792 billion
Total equity$ 1.377 billion
Number of employees
14,075 (2019)
Websitewww.corecivic.com
Footnotes / references
Form 10-K for FY2019

As of 2016, the company is the second largest private corrections company in the United States. CoreCivic manages more than 65 state and federal correctional and detention facilities with a capacity of more than 90,000 beds in 19 states and the District of Columbia.

The company's revenue in 2012 exceeded $1.7 billion. By 2015, its contracts with federal correctional and detention authorities generated up to 51% of its revenues. It operated 22 federal facilities with the capacity for 25,851 prisoners. By 2016, Corrections Corporation of America (CCA) along with GEO Group were running "more than 170 prisons and detention centres". CCA's revenues in 2015 were $1.79bn.

CCA has been the subject of much controversy over the years, mostly related to apparent attempts to save money, such as hiring inadequate staff, extensive lobbying, and lack of proper cooperation with legal entities to avoid repercussions. CCA rebranded itself as CoreCivic amid the ongoing scrutiny of the private prison industry.

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