By Tory Brownyard, president, Brownyard Group
The Great Recession has reconfigured many industries, including the public sector. Local governments are cutting back across the board, including their police departments. A 2011 survey by the Fraternal Order of Police estimates that the U.S. lost between 12,000 and 15,000 sworn officer positions since the beginning of the recession; the International Association of Chiefs of Police estimates that 10,000 positions have been lost.
While police forces shrink—and governments respond to tragedies like December's elementary school shooting in Newtown, Ct.— the demand for private security guards has grown. For example, in Detroit, some private security companies have seen an 80 percent increase in business since the beginning of the recession. This strong demand has further bolstered an industry that had been growing at a rate of between 7 percent and 12 percent per year for some time.
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