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Prison REIT sees dollar signs in Trump's new immigration policies

 

Nashville-based CoreCivic, the biggest private prison operator in the U.S., is eager to develop new detention facilities that will likely be needed under President Donald Trump's executive orders on immigration.

 

In an earnings call this week, CoreCivic President/CEO Damon Hininger said the firm is seeking to expand its detention business with U.S. Immigration and Customs Enforcement.

 

Additionally, a high population of immigrants detained in ICE-contracted facilities helped fuel CoreCivic's fourth-quarter financial gains, Hininger said. That was before Trump took office.

 

"When coupled with the above average rate of crossings along the Southwest border," Hininger said, "these executive orders appear likely to significantly increase the need for safe, humane and appropriate detention bed capacity."

 

Hininger said more jails are in order after two Trump executive orders last month. They include building a U.S.-Mexico border wall, adding detention and border patrol officers, and cutting grants for immigrant-protecting "sanctuary cities."

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