Providence Service Corporation Workforce Development Subsidiary Awarded $7 to 8 Million Annual Contract for the City of Detroit

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Pressac	LSE:PRSC	London	Ordinary Share	GB0007011546	ORD 5P

Industry Sector	Turnover	Profit	EPS - Basic	PE Ratio	Market Cap
	0	0		N/A	0

Pressac (LSE:PRSC)
Historical Stock Chart

From May 2019 to May 2024

TUCSON, Ariz., Oct. 28 /PRNewswire-FirstCall/ -- The Providence Service Corporation (NASDAQ:PRSC) today announced that Detroit, Michigan based Ross Innovative Employment Solutions, part of Providence's wholly owned workforce development subsidiary, Providence Community Services, Inc., was awarded an annual $7 to 8 million contract by the Detroit Workforce Development Department, a Michigan Works! Agency, for the oversight and operation of several One Stop Service Centers in the city. Under the contract, Ross will operate four One-Stop Service Centers and a mobile unit for the city of Detroit. The centers are designed to meet the needs of both the business community and job seekers. Ross will provide job seekers, including dislocated workers from industries such as automotive, education, government and manufacturing, with soft skills employability workshops, referrals to vocational and professional training, career guidance and job placement. Each center provides the opportunity for laid off workers to file their unemployment claim and place their resume on the talent bank. Other customers are expected to include the underemployed, displaced homemaker, returning citizens, veterans, persons with disabilities, older youth, and older workers. For the local business community, Ross will provide access to a full range of local workforce development services including labor market information, advertisement support, application prescreening, assessments, job matching and placements, as well as on-the-job training and incumbent worker training. "We are pleased that we were able to secure this award, in what was a very competitive environment," commented Fletcher McCusker, Chairman and CEO. "Our success was a credit to the excellent team at Ross as well as their track record of running successful workforce development programs in the state. In Detroit, which is dealing with record unemployment levels in the range of 28%, programs like One-Stop offer a very valuable service and are integral in helping the unemployed become economically self-sufficient." The annual $7 to 8 million contract is subject to final review and execution. The expected start date is December 1, 2009. The contract, which was awarded through a competitive bid process, is funded by the Department of Labor and Michigan's Department of Energy, Labor and Economic Growth. The Workforce Investment Act (WIA), a $74 million program in Michigan, is administered by the state's 25 Michigan Works! Agencies. About Providence The Providence Service Corporation, through its owned and managed entities, provides home and community based social services and non-emergency transportation services management to government sponsored clients under programs such as welfare, juvenile justice, Medicaid and corrections. Providence does not own or operate beds, treatment facilities, hospitals or group homes, preferring to provide services in the client's own home or other community setting. The Company provides a range of services through its direct and managed entities to over 78,000 clients through 925 active contracts at June 30, 2009, with an estimated 6.7 million individuals eligible to receive the Company's non-emergency transportation services. Combined, the Company has a nearly $1 billion book of business including managed entities. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "demonstrate," "expect," "estimate," "anticipate," "should" and "likely" and similar expressions identify forward-looking statements. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. These factors include, but are not limited to the global credit crisis, capital market conditions, and other risks detailed in Providence's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2008. Providence is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise. DATASOURCE: The Providence Service Corporation CONTACT: Fletcher McCusker - Chairman and CEO, or Kate Blute - Director of Investor and Public Relations, both of The Providence Service Corporation, +1-520-747-6600; or Alison Ziegler of CAMERON ASSOCIATES, +1-212-554-5469, for The Providence Service Corporation Web Site: http://www.provcorp.com/

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

PRSC Pressac