In Trump’s mass deportation plan, the private prison industry sees a lucrative opportunity
As the government and law enforcement brace for the sweeping ramifications of President-elect Donald Trump’s pledge to deport what could be millions of undocumented immigrants from the United States, another stakeholder appears poised to cash in on the complex logistics that would be required: the powerful private prison industry.
On corporate earnings calls since Election Day, executives at the country’s top private prison firms have embraced Trump’s immigration agenda as a potential windfall if the federal government requires contractors to construct new detention facilities and provide additional support services for the unprecedented effort.
Geo Group founder George Zoley, whose company is the country’s largest private prison operator, told investors last week that Trump’s deportation plans represent a “potential sea change” for the industry.
“The Geo Group was built for this unique moment in our history and the opportunities that it will bring,” Zoley said.
The U.S. Immigration and Customs Enforcement agency (ICE) has for years relied on private companies to house detained migrants, making it a multimillion-dollar business. That industry is expected to grow under Trump and his newly tapped border czar, Tom Homan, who has embraced Trump’s promise to undertake mass deportations on “Day 1” of the new administration.
John Sandweg, a former acting director of ICE, said he expects the Trump administration to offer “massive contracts” to the major players in the private prison industry. [Continue reading…]