Corporations such as Corrections Corporation of America (CCA), the Geo Group (formerly Wakenhut), Avalon Correctional Services, Cornell Companies and Industry Property Management. CCA has a $2 billion market cap, followed by the Geo Group with a $922 million market cap. The money is made by contracting out the inmates’ labor to Fortune 500 companies and, in some cases, they compete for public works contracts. CCA and the others are making money, and their stock trades on the stock exchange. Telecommunications industries pay prisons to put pay phones in prisons. Pay phones in prisons make $15,000 a day. Transportation companies and all sorts of cottage industries develop around the prison industry. UNICOR, or Federal Prison Industries, created by Congress, was one of the first prison industries established to exploit inmate labor. States also pay a per diem per inmate to private prison corporations.
About 10.4% of the entire African-American male population in the United States aged 25 to 29 was incarcerated, by far the largest racial or ethnic group—by comparison, 2.4% of Hispanic men and 1.2% of white men in that same age group were incarcerated. According to a report by the Justice Policy Institute in 2002, the number of black men in prison has grown to five times the rate it was twenty years ago. Today, more African-American men are in jail than in college. In 2000 there were 791,600 black men in prison and 603,032 enrolled in college. In 1980, there were 143,000 black men in prison and 463,700 enrolled in college.
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