Public Values

Ohio executes first prison sale to private company

With prison operations privatized for decades, it was just a matter of time.

September 1, 2011: CBC News reports that Ohio has become the first state to sell a prison to a private company. Although private companies have been operating prisons and penitentiaries for decades, none has previously owned one. The sale was the result of budget cuts.

"An 11-year-old penitentiary along on the shores of Lake Erie in Ohio has become the first state prison in the United States to be sold outright to a private company.

Lake Erie Correctional Institution in northeastern Ohio is the only one of five state prisons up for sale that will be sold, state officials said Thursday. It's going to Corrections Corporation of America for $72.7 million US.

The four other prisons for sale didn't generate advantageous offersÂ…"

For the complete article, please click here.

Posted: September 07, 2011

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