So what do you do when your bottom line profit has grown from $63.5M US to $78.6M US and you’re “the world’s leading provider of correctional, detention, and community reentry services”? Why not pay $6 million US to put your name on a college football stadium? That’s what The GEO Group, based in Boca Raton, Florida did. It’s name will grace the Florida Atlantic University Owls football stadium.
Typically these types of “naming rights” deals are secured by consumer brand companies like banks, airlines, or soft drink companies. But GEO is in a position where it doesn’t mind drawing attention to itself. And according to a statement from spokesman Pablo Paez, “while we understand others will always have an opinion and critics will criticize, we hope that those critics would for one day put aside their criticisms and join us in supporting this important endeavor for the betterment of higher education in the State of Florida.”
The private prison industry is booming with profits. And for those that are targeted to feed the pipeline, you can now see how your contributions are being re-cycled through the global economy.
What say you?