A new report highlighting how the private equity industry supports jobs and invests billions of dollars in the communities across the country was released by the American Investment Council (AIC) last week.
The report specifically provides jobs and investment data for the regions represented by the nine new Senators and 40 new members of the House of Representatives. For example, in Florida, represented by new Sen. Rick Scott (R-FL), there have been over 1 million private equity-backed jobs and $29 billion in private equity investment. In Arizona, where Sens. Martha McSally (R-AZ) and Kyrsten Sinema (D-AZ) take their seats, there have been over 150,000 private equity-backed jobs and $10 billion in private equity investment.
Further, in the district represented by Rep. Haley Stevens (D-MI), there have been over 49,000 private equity-backed jobs and $3 billion in private equity investment, while the district served by Rep. Dan Crenshaw (R-TX) has seen over 16,000 private equity-backed jobs and $2.3 billion in private equity investment.
“Every new member of Congress has private equity-backed jobs and investment in their local community. Our new report demonstrates exactly how private equity invests across America and supports the jobs of millions of American workers. We look forward to working with each new Senator and Representative now to ensure they understand how private equity investment helps grow local economies, builds better businesses, and strengthens the pensions of public sector workers and retirees,” AIC President and CEO Drew Maloney said.
AIC says there are over 4.9 million Americans who are employed by both small and large companies backed by private equity. Since 2012, private equity invested an estimated $3 trillion in about 32,000 American companies.