ResCare Awarded Two-Year $8 Million Contract With Job Corps; Virginia Job Corps Center Contract Renewed Up to Five Years.
LOUISVILLE, Ky.--(BUSINESS WIRE)--Dec. 30, 2002
ResCare, Inc. (NASDAQ/NM:RSCR), the nation's leading provider of residential, training, educational and support services for special needs youth and persons with disabilities, today announced that its Division for Training Services has been awarded a two-year $8 million contract by the U.S. Department of Labor to continue operating the Blue Ridge Job Corps Center in Marion, Virginia.
Effective January 1, 2003, the two-year $8 million contract, which was awarded after a formal bid process, contains three one-year renewal options. ResCare has operated the 200-student Blue Ridge Job Corps Center since January 1997. When ResCare initially became involved, the center was ranked 105 out of 109 Job Corps centers on the Outcome Measurement Ratings used by the Department of Labor to ensure centers meet student needs. During the five years under ResCare guidance, enrollment has increased and Blue Ridge Job Corps Center has climbed in the rankings to the 22nd slot. Job Corps is an educational and training program operated by the U.S. Department of Labor for special needs young people ages 16-24.
Blue Ridge is unique in that it offers education, job training and placement opportunities primarily to young women. The student body consists of 180 women residential students, 10 women who live off campus and 10 young men who commute from off campus. Blue Ridge offers on-line course work to students and has a partnership with the Smyth County School System. It began a new licensed practical nurse training program in August and offers vocational training programs in conjunction with the Smyth County School System and neighboring Washington County.
"We are extremely pleased that the U.S. Department of Labor has selected us to continue operating the Blue Ridge Job Corps Center," said Ronald G. Geary, ResCare chairman, president and chief executive officer. "Job Corps has played an important role at ResCare for the 26 years of our history and is the foundation on which our other services to young people have been built. We consider it a privilege and distinct honor to be selected to continue to provide these vital services. We look forward to maintaining our close relationship with the Job Corps community and to expanded growth in our Division for Training Services."
ResCare, founded in 1974, offers services to some 27,000 people in 32 states, Washington, D.C., Puerto Rico and Canada. Of these, approximately 10,000 are youth with special needs and 17,000 are people with developmental or other disabilities. The Company is based in Louisville, KY. More information about ResCare is available on the Company's web site at http://www.rescare.com.
The Company from time to time makes forward-looking statements in its public disclosures, including statements relating to 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, deinstitutionalization and privatization 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. Reference is hereby made to such disclosures.
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|Date:||Dec 30, 2002|
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