Management & Training Corporation will take control of the East Mississippi Correctional Facility July 19.
Warden Frank Shaw says the company is staffed and ready to make the transition.
"Each new employee has gone through a three-week, intense training course which covered all aspects of safely operating a correctional facility," Shaw said in a written news release. "This is the same training correctional officers receive at a facility operated by the state of Mississippi."
EMCF has the capacity to house 1,500 inmates.
MTC was also awarded contracts to manage Walnut Grove Correctional Center in Walnut Grove and the Marshall County Correctional Facility in Holly Springs.
MTC operates 22 correctional facilities in eight states.