The Trump administration could be a boon for business for private prison companies in the U.S. if the president-elect delivers on his promise to crack down on illegal immigration. CoreCivic and Geo Group, the two biggest private prison operators in the U.S., both contract with the U.S. Immigration and Customs Enforcement to house detained, undocumented migrants.
In his second term, President-elect Trump promises a radical shift in policy at the U.S.-Mexico border from his predecessor. That includes a pledge to oversee the largest deportation operation in American history, which could bring significantly more business to CoreCivic and Geo Group. For the first nine months of 2024, ICE accounted for 30% of each company's revenue. Both Geo Group and CoreCivic said they currently have excess capacity to accommodate a larger population of detainees.