Correctional Facilities in the US
The Correctional Facilities industry owns, manages and leases prisons, community correctional facilities and juvenile detention centers on behalf of government agencies. Decreasing crime and incarceration rates, coupled with increased scrutiny in the wake of several high-profile scandals at privately operated facilities, have resulted in marginal growth rates over recent years. However, continued overcrowding of prisons at the state level is expected to prevent major hits to industry revenue. Moreover, moves by the US Department of Justice (DOJ) to reauthorize the use of private prisons on the federal level and changing immigration policies under the Trump administration are expected to offer the industry a boon during the outlook period.
The Correctional Facilities industry consists of operators that own or manage correctional facilities and halfway houses. Services provided by industry enterprises include private janitorial, maintenance, trash disposal, guard and security, mail routing reception, laundry and other services that support operations in correctional facilities. The industry does not include facility support services for other types of establishments, such as military bases and other government facilities.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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