CoreCivic has been awarded a new contract under an Intergovernmental Services Agreement (IGSA) with the Oklahoma Department of Corrections and U.S. Immigration and Customs Enforcement (ICE) to resume operations at its 2,160-bed Diamondback Correctional Facility. This facility has been idle since 2010.
The new contract commences on September 30, 2025, for a term of five years, with options for bilateral modification. The agreement provides for a fixed monthly payment plus an incremental per diem payment based on detainee populations.
Once fully activated, the Diamondback facility is expected to generate approximately $100 million in total annual revenue. CoreCivic anticipates beginning to receive detainees in the first quarter of 2026, with the full ramp-up estimated to be complete in the second quarter of 2026. The company also expects to invest an additional $13 million over several quarters for renovations requested by ICE.
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