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Bloomberg Government Analysis of Lobbying Firms

Bloomberg Government (BGOV), a division of Bloomberg Industry Group аnd leading analytics firm, provides insights into legislative and regulatory development. It analyzes and rates lobbying firms across sectors and industries, enabling businesses and other beneficiaries to anticipate and adapt to policy changes and make informed decisions.

BGOV's latest report reveals lobbying spending has been on a multi-year growth track since 2016, climbing from $3.13 billion to a record $4.27 billion in 2023. A key driver in this upward trajectory is legislative focus on pressing issues such as inflation, energy policy, and emerging technologies like artificial intelligence. Ongoing concerns include the 2017 Tax Cuts and Jobs Act provisions that will expire and could further produce lobbying expenditures in the coming years.

BGOV's annual report emphasizes the role of lobbying firms as intermediaries between private interests and policymakers in the US in shaping the crafting and implementation of legislation. Some firms have rebranded after mergers to unify their identities, signal expanded services and expertise, and strengthen their market positioning to attract a diverse client base.

In its analysis of lobbying firms, BGOV evaluates top performers based on various criteria. A primary indicator is revenue generation and revenue growth over the lifespan of the lobbying firm. Another category identifies standout firms. Bloomberg Government analyzes firms that demonstrate consistent success, particularly in client retention over many years, which indicates long-term client satisfaction. Candidates consist of lobbying firms that have retained at least 80 percent of their clients annually and those with a three-year retention rate above 60 percent.

The strictness of this criterion is exemplified by the numbers. In 2022, out of the 363 firms meeting the minimum revenue threshold, only 82 met some standout criteria, and just 23 fulfilled all requirements. The 2024 report showed a slight increase in high-performing firms, though the group meeting all criteria remained exclusive.

In addition to analyzing specific performance areas, Bloomberg Government integrates all key business metrics - annual revenue growth, revenue per client, customer retention, and revenue per lobbyist - to identify top industry performers overall. Key performers over the years have included Brownstein, Hyatt Farber Schreck, BGR Government Affairs, and Advanced Policy Consulting, LLC.

Advanced Policy Consulting in particular, has shown consistent and exceptional performance, with various recognition highlighting its achievements. In 2023, BGOV recognized it as one of the top-performing lobbying firms, continuing a trend of similar honors from previous years, 2022 back to 2019. Advanced Policy Consulting was also recognized with the top lobbying honor as a Standout Lobbying firm in 2023, 2022 and 2020.

Bloomberg Government's annual analysis offers valuable insights into the lobbying industry's dynamics and key influencers. This information is crucial for businesses and professionals looking to understand industry trends, identify leading firms, and stay informed about regulatory developments that shape the lobbying landscape. Benefiting from this insight are key players in healthcare, manufacturing, technology, energy, tax, and other sectors, who learn where to allocate resources to maximize influence and achieve policy goals.

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Bloomberg Report for 2023 Reveals Health, Energy, and Tech Lobbying

Based in the Washington, DC, area, Advanced Policy Consulting, LLC was named as Bloomberg Government's Top-Performing Lobbying Firms for 2023, which was published in 2024. Advanced Policy Consulting, LLC has had this honor for the years of 2019, 2020, 2021, 2022, and 2023. In addition to highlighting the accomplishments of the firm, the report also mentioned that health, energy, and technology were industries that hired lobbying firms to represent them before Congress and the Administration.

Advanced Policy Consulting LLC met all of Bloomberg Government's metrics. The metrics included retaining 80 percent or more of their clients from the preceding year and 60 percent or more of their clients over the past three consecutive calendar years.

The industries most interested in lobbying were healthcare, energy, and technology, according to the Bloomberg Government's 9th Annual Top-Performing Lobbying Firms Report. Within healthcare, institutions and nursing homes spent $2.3 billion from 1998-2023 in expenses as an industry toward lobbying, with $131 million spent in 2023 alone and the American Hospital Association spending the most at $30.2 million. The pharmaceutical industry has also been a significant lobbying industry, spending $5.83 billion on lobbying efforts between 1998 and 2023. Drug manufacturers, medical devices, and nutritional/dietary supplements comprise a significant share of lobbying in all industries.

Energy is another big spender in terms of lobbying. Between 1998 and 2023, electric utility companies spent $3 billion in lobbying, and in 2023, they spent $126.7 million. The oil and gas industry has also spent heavily lobbying, spending $2.8 million from 1998 to 2023. Since 2021, the oil and gas industry has lobbied about fossil fuels and reducing taxes and regulations. Also, high energy prices have been a major concern.

Finally, the technology sector spent a significant amount as an industry, spending $3.32 billion between 1998-2023. The industry is comprised of computer software and hardware manufacturers and semiconductor suppliers. The Bloomberg Government Report stated that, in 2023, companies relied on lobbyists when going before officials related to the CHIPS and Science Act, laws designed to enhance the semiconductor industry in the US. Other tech firms worked with lobbyists to represent them as Congress hashes out AI-related legislation.

Advanced Policy Consulting, LLC, was one of several lobbying firms that successfully worked for their clients in the above industries and earned this top ranking. For more information on this firm's ranking or the 2023 Bloomberg Government report, please visit assets.bbhub.io/bna/sites/3/2024/03/2024-Top-Performing-Lobbying-Firms-Report.pdf.