Can anybody with some knowledge please tell me what the impact of correctional centres have on towns within which they are placed? Have the outcomes been positive or negative both long term or short-term? This covers both the impact on demand for rental properties due to the contractors and also an impact on the capital gain/loss in areas that have in the last ten years had a correctional centre erected within their community.[blink][weird]
Cessnock seems to be doing fine… I would guess that it’s all good. Including giving mums and dads a new discipline tactic.
A correctional facility will also employ a number of warders and will provide flow on economic benefits into the community. Whether or not these are significant is dependent upon the size of the community.
We live in a 30000 city with correctional facility and there are some econmic benefits to the local community – however there is no evidence to say that the facilty has had a negative or positive effect on the local property market as it is relatively insignificant in the grand scheme of things.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Thanks Steve and Derek.
A town came up out of the blue that I was interested in and it appears that the locals are looking forward to economic growth due to the correctional facility through building, contractors etc. etc.
Good to know the info and thanks.
Simone
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