CoreCivic
 |
|
| Public | |
| Traded as | : CXW S&P 400 Component |
| Industry | Private prisons |
| Founded | Nashville, Tennessee, U.S. (1983) |
| Founder |
Thomas W. Beasley T. Don Hutto Robert Crants |
| Headquarters | Nashville, Tennessee, U.S. |
|
Area served
|
United States |
|
Key people
|
John D. Ferguson Chairman of the Board Damon T. Hininger President & CEO |
| Revenue |
 $ 1.736 billion |
|
$ 332.06 million |
|
|
$ 162.51 million |
|
| Total assets |
$ 3.020 billion |
| Total equity |
$ 1.408 billion |
|
Number of employees
|
16,750 – December 2011 |
| Website | www |
|
Footnotes / references 2011 financial statements |
|
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 Nashville, Tennessee by Thomas W. Beasley, chairman of the state Republican Party, Doctor Robert Crants, and T. Don Hutto in 1983, it received initial investments from Jack C. Massey, the founder of Hospital Corporation of America, Vanderbilt University, and the Tennessee Valley Authority.
As of 2015, the company is the largest private corrections company in the United States. It 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.
Controversies related to the company include: poor treatment of inmates and disclosure of oversight, lobbying efforts to conceal details of operations; a lawsuit about gang influence at an Idaho facility and substantial falsification of records to hide understaffing; cooperation with local law enforcement in a school drug sweep; and the deadly 2012 riot at a Mississippi facility.
Corrections Corporation of America (CCA) was founded in Nashville, Tennessee, on January 28, 1983, by Thomas W. Beasley, Doctor Robert Crants and Terrell Don Hutto. Beasley served as the chairman of the Tennessee Republican Party; Crants was the chief financial officer of a real estate company in Nashville; Hutto was the president-elect of the American Correctional Association. A founding member of its board of directors was Maurice Sigler, the former chairman of the United States Board of Parole. The initial investment came from Jack C. Massey, co-founder of the Hospital Corporation of America. An early investor prior to the IPO was Vanderbilt University, where Beasley was a law graduate. Additionally, the Tennessee Valley Authority was another early financial backer.
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