ResCare Wins Contract Renewal on Three Puerto Rico Job Corps Centers; $31.3 Million Two-Year Contract with Options to Renew.LOUISVILLE, Ky. -- ResCare, Inc. (NASDAQ/NM:RSCR RSCR Railways (Safety Case) Regulations (UK) ), the nation's leading provider of residential, training, educational and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services for adults and youth with special needs, announced today that its Employment and Training Services Group has been awarded a $31.3 million contract by the U.S. Department of Labor to continue operating three Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. Job Corps Centers. The term of the contract is from March 1, 2006, to February 29, 2008, with three one-year options for renewal. Job Corps is an educational and training program offered by the U.S. Department of Labor for at risk youth between ages 16 and 24. Operated by ResCare since 1990, the three Puerto Rico Job Corps Centers, located in Arecibo, Barranquitas and Ramey, are currently assisting 795 students in their efforts to receive GEDs or high school degrees, vocational training and job placement. "We are pleased that we are being given the opportunity to continue the important work that these three Job Corps Centers in Puerto Rico are delivering," said Ronald G. Geary, ResCare chairman, president and chief executive officer. "The dedicated staffs at these three facilities have established a successful track record of helping students receive their GED GED abbr. 1. general equivalency diploma 2. general educational development GED (US) n abbr (Scol) (= general educational development) → or high school degrees and placing them into positions where they can make a meaningful contribution. We are very proud of the staffs of these facilities and the services they provide." ResCare, founded in 1974, provides services in 36 states, Washington, D.C., Puerto Rico and Canada. ResCare is a human service company offering residential, therapeutic, job training and educational supports to people with developmental or other disabilities; providing education and training to young people in the Job Corps program; operating one-stop employment and training services for people experiencing barriers to employment; and giving older people the help they need to stay in their homes. It is headquartered in Louisville, Ky. More information is available at www.rescare.com. The Company, from time to time, makes forward-looking statements in its public disclosures, including statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc revenues that might be expected from new or acquired programs and facilities, other statements regarding development and acquisition activities, statements regarding reimbursement under federal and state programs and statements regarding various trends favoring downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing , deinstitutionalization de·in·sti·tu·tion·al·i·za·tion n. The release of institutionalized people, especially mental health patients, from an institution for placement and care in the community. and privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned of government programs. In the Company's filings under the federal securities laws, including its annual, periodic and current reports, the Company identifies important factors that could cause the Company's results to differ materially from those contained in such forward-looking statements. Please refer to those disclosures. |
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