How does ConvaTec make money?
CoreCivic, the largest private prison company in the United States, generates its income primarily through government contracts. The company owns, leases, and operates various correctional facilities, including prisons, jails, immigration detention centers, and residential reentry centers. The bulk of its revenue is derived from contracts with federal agencies—most notably U.S. Immigration and Customs Enforcement (ICE), the U.S. Marshals Service, and the Federal Bureau of Prisons—with the remainder coming from state and local government agencies. Following its reorganization from a Real Estate Investment Trust (REIT) to a taxable corporation in 2021, the company operates as a standard corporate entity, providing incarceration services, transportation, and e-carceration technologies to the criminal punishment system.
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