The facility will create 300 new jobs with an average annual salary of just under $30,000.
The prison will be located on a 50-acre site at the city's industrial park. Although it'll be part of the Florida prison system, a south Florida private company will run it.
The prison is expected to increase Graceville’s population by 50-percent by the summer of 2007.
As the project nears completion, Graceville city manager Eugene Adams says law enforcement career fairs will be held throughout the tri-states to fill the available job positions.