CoreCivic wins ICE contract for idle Minnesota facility

CoreCivic, Inc. (NYSE: CXW) has been awarded a contract with U.S. Immigration and Customs Enforcement to reactivate its 1,600-bed Prairie Correctional Facility in Appleton, Minnesota, a facility that has been idle since 2010.

The contract begins Aug. 11, 2026, and runs for five years. The agreement includes a fixed monthly payment plus a per diem payment based on detainee population levels. CoreCivic expects to begin receiving detainees in the fourth quarter of 2026, with full ramp-up expected to be complete by the second quarter of 2027.

The company expects the contract to have an immaterial impact on earnings for the remainder of 2026 due to start-up activities and a phased intake process. Once fully activated, CoreCivic expects the facility to generate approximately $75 million in annual revenue.

Patrick D. Swindle, CoreCivic's Chief Executive Officer, said, "We are pleased to announce the new contract at our Prairie Correctional Facility. While this facility has been idle since 2010, we have made investments to help ensure an efficient reactivation in the event of a new contract."

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