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12-22-2006, 06:48 PM #1
Feds tap Geo for immigration detention center
http://phoenix.bizjournals.com/southflo ... ily49.html
Feds tap Geo for immigration detention center
South Florida Business Journal - 4:33 PM EST Thursday
U.S. Immigration and Customs Enforcement has tapped Geo Group to expand an immigrant detention center in Tacoma, Wash.
The Boca Raton-based correctional and detention firm (NYSE: GEO) has been contracted to add 200 beds to ICE's 800-bed Northwest Detention Center.
The 200-bed capacity expansion will require no construction and is expected to generate about $2 million in additional annual operating revenues at full occupancy. The expansion is effective Jan. 1.
"We are thankful for the confidence placed in our company by U.S. Immigration and Customs Enforcement," said George C. Zoley, Geo chairman and chief executive officer. "The capacity expansion of this important facility will help address the increased federal detention bed needs along the nation's borders,"
Geo shares closed up $2.11 to $36.34. The 52-week high was $40.30 on Nov. 13. The 52-week low was $14.69 on Feb. 17.Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
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