GEO will finance and operate the New Castle facility for maximum security prisoners adjacent to the existing prison.
The price per bed will be $37, instead of $42 if the state had to finance and operate the facility, without a private entity. As a result, the State will save $650,000 annually.
The New Castle facility is the first and only privately-ran facility within the state and is the only Indiana prison to ever receive 100 percent accreditation on all standards. There are more than 550 standards of compliance.
"The Indiana Department of Corrections has made due without building a new facility since 2002," said Rep. Saunders. "However, with an increasing number of prisoners-projected 6,000 prisoner increase by 2017-the build was necessary."
Construction for the New Castle facility is expected to be completed by February 2012, with an estimated 3,196 capacity.
"I am pleased for the New Castle community and surrounding areas that this project will be happening because it will bring us jobs-which is what Indiana needs. It will give us an opportunity to bring in construction jobs to build the facility and jobs to maintain the facility. And any time we can save a few dollars while benefitting the state as a whole, is always a good deal," said Rep. Saunders.