Hi All,
We are currntly marketing in a county where the governor has announced they will be building a prison.
The governor is promising it will stimulate the local economy, but a lot of locals are concerned about how it will impact the value of their land.
I’m interested to know if there are any examples in other areas that can offer some insight into what will happen to the market on a local level.
Thanks,
Jonathan
The county next to mine has 6 prisons in it. I wouldn’t call it the most sought-after county to live in, but it’s not because of the prisons. If anything, the prisons create good, long-term, stable jobs and employment, not just when they’re being built, but after construction is finished.
It may not lend itself well to a place that wants to be known for tourism (prisons don’t look great on postcards), but in terms of the raw economics, I can’t see how a new prison would be a bad thing.