The Corrections Corporation of America (CCA) held its 2008 fourth quarter investor conference call last month. The private prison profitteers at CCA mentioned the company is suffering from the economic downtown that is facing other sectors. The most clear reason given was the budget discussions happening at the state level and the potential impact on CCA contracts.
Corporate officials were very careful not to disclose too much information in the call that could impact CCA's bottom line. Specifically, they refused to mention which states the company was in current discussions with regarding contracted capacity. We know that Texas is in the middle of it's legislative session right now. There is no doubt that CCA lobbyists are walking the halls of the state capitol in an attempt to protect it's current contracted capacity and influence any opportunity to expand private capacity at the state or local level.
On the investor call, CCA mentioned that the average compensated prison bed occupancy grew to nearly 83,000 beds in 2008 from 75,000 in 2007. Additionally, there was a 5.5% increase in average daily population of CCA capacity during 2008.
In materials relating to the call, CCA lists the facility it owns and operates in Texas. Those facilities are listed below.
Texas Facility Portfolio (as of December 31, 2008)