Damon Hininger, president and CEO of CoreCivic, Inc. (NYSE: CXW), joined REIT.com for a video interview at REITWeek 2017: NAREIT’s Investor Forum at the New York Hilton Midtown.
CoreCivic, previously known as Corrections Corporation of America, provides corrections and detention facilities, government criminal justice real estate solutions, and residential re-entry centers.
Hininger said the decision to rebrand the company occurred about three to four years ago in order to transform the business from largely corrections and detention services to a wider range of government solutions.
“We want to be there as a flexible, innovative solution,” Hininger said. For example, he noted that CoreCivic’s detention assets can be marketed to jurisdictions nationwide.
Hininger also discussed common misperceptions about the industry. He described allegations that the company has lobbied against sentencing reform as “absolutely unfair and untrue.”
Meanwhile, Hininger stressed CoreCivic’s emphasis on rehabilitation. During the past five years, CoreCivic has helped about 10,000 individuals obtain their high school or GED diplomas. The company has also helped 25,000 individuals gain vocational certification, he noted.