The GEO Group announced Wednesday that the Federal Bureau of Prisons will not be renewing their contract for the Moshannon Valley Correctional Facility in Clearfield County.
The contract, which GEO officials say generated about $42 million in annualized revenue, is set to expire March 31.
The GEO Group is an equity real estate investment trust that specializes in designing and operating secure facilities processing centers and community reentry centers in the United States and across the world.
GEO officials say they plan on marketing the Decatur Township-based, 1,878 bed Moshannon Valley Correctional Facility to other federal and state agencies.
Moshannon Valley Correctional Center has been providing correctional services on behalf of the Federal Bureau of Prisons since 2006, according to the GEO Group.