The GEO Group Announces Decision by Federal Bureau of Prisons To Not Renew Its Contract for the Moshannon Valley Correctional Facility in Pennsylvania financialbuzz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialbuzz.com Daily Mail and Mail on Sunday newspapers.
Moshannon Valley Correctional Center 12:33 am
The GEO Group announced Wednesday that the Federal Bureau of Prisons will not be renewing their contract for the Moshannon Valley Correctional Facility in Clearfield County.
The contract, which GEO officials say generated about $42 million in annualized revenue, is set to expire March 31.
The GEO Group is an equity real estate investment trust that specializes in designing and operating secure facilities processing centers and community reentry centers in the United States and across the world.
GEO officials say they plan on marketing the Decatur Township-based, 1,878 bed Moshannon Valley Correctional Facility to other federal and state agencies.