Four congressmen in the US House of Representatives will lead a caucus aiming to promote greater awareness of the role mid-market companies play in economic growth.
The “Congressional Caucus for Middle Market Growth” will be led by Steve Stivers (R-OH), Jared Polis (D-CO), Tom Rice (R-SC) and Brad Schneider (D-IL).
The mid-market, defined as companies with $10 million to $1 billion in annual revenues, employs some 44 million people and “has proven to be a resilient and consistent driver of job creation”, said in a statement Polis.
As part of its creation, the caucus formed a working relationship with the Association for Corporate Growth (ACG), a group focused on driving mid-market growth. It’s understood that the ACG will act as a resource center for the caucus, providing it data and research on the mid-market sector that could be used to educate lawmakers and provide a channel for policy discussions. A policy agenda is being developed and rolled out over the next several months.
“You look what happened on the regulatory front, the venture capital industry has been exempted from many regulatory burdens. That's because for 40 years they have had a group speaking for them, which we've now done here for the mid-market,” said ACG chairman Pamela Hendrickson, who is also chief operating officer of mid-market private equity firm The Riverside Company.