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Business Wire
a day ago
- Business
- Business Wire
The GEO Group Announces Activation of Company-Owned 1,868-Bed D. Ray James Facility
BOCA RATON, Fla.--(BUSINESS WIRE)-- The GEO Group, Inc. (NYSE: GEO) ('GEO' or the 'Company') announced today that U.S. Immigration and Customs Enforcement ('ICE') has executed a contract modification, effective June 6, 2025, to activate a federal immigration processing center at the GEO-owned, 1,868-bed D. Ray James Facility (the 'Facility') in Folkston, Georgia under the existing intergovernmental service agreement ('IGSA') involving the GEO-owned, 1,118-bed Folkston ICE Processing Center. Under the modified IGSA, GEO expects to generate approximately $66 million in incremental annualized revenues in the first full year of operations, with margins consistent with GEO's company-owned Secure Services facilities. GEO's support services will include the exclusive use of this federal facility by ICE, along with security, maintenance, and food services, as well as access to recreational amenities, medical care, and legal counsel. George C. Zoley, Executive Chairman of GEO, said, 'We expect that our company-owned D. Ray James Facility in Georgia will play an important role in helping meet the need for increased federal immigration processing center bedspace. We are proud of our 40-year public-private partnership with ICE, and we stand ready to continue to help the federal government meet its expanded immigration enforcement priorities.' About The GEO Group The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO's diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO's worldwide operations include the ownership and/or delivery of support services for 98 facilities totaling approximately 77,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees. Use of forward-looking statements This news release may contain 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.
Yahoo
5 days ago
- Politics
- Yahoo
Chesapeake Sheriff's Office expanding partnership with ICE
CHESAPEAKE, Va. (WAVY) — The Chesapeake Sheriff's Office recently announced an expansion of its partnership with U.S. Immigration and Customs Enforcement (ICE). According to a release, the expansion is part of an Intergovernmental Service Agreement (IGSA) first discussed in 2022 to offer ICE a 72-hour window to complete custody or removal deportation proceedings at the Chesapeake Correctional Center. 'This finalized agreement reflects Sheriff Rosado's ongoing commitment to keeping our community safe and his dedication to building strong working relationships with federal, state and local agencies,' the release states. The agreement marks the first of its kind for the Hampton Roads region. The expansion comes as the Trump Administration works to deport people in the country illegally in record numbers, even at one point offering immigrants in the United States illegally $1,000 to leave voluntarily. Continue to check for updates. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
