-- Valdosta, Ga. -- march 16,2012 --
The Corrections Corporation of America is not extending their agreement with the Valdosta Lowndes County Industrial Authority. That agreement was to construct and operate a corrections facility in Lowndes County.
Negotiations began in 2010. The initial agreement allowed for three extension terms to purchase the land. That extension officially expired on Tuesday March 13.
The Valdosta Lowndes County Industrial Authority Executive Director Andrea Schruijer said "The contract that we currently had in way or the purchase and development agreement that we had is null and void at this point."
One of the reasons why the Corrections Corporation of America may not have extended the agreement is because Georgia's prison population is down. But that doesn't mean Lowndes County wouldn't have benefited from the project.
Schruijer went on to say "It would have been a huge economic impact. There were about 400 jobs associated with the project with approximately $150 million dollars in capital investment."
Those four hundred jobs that the prison would have created, on average, would have payed between $40,000 and $50,000 dollars eah.