New limits on the access lobbyists have to lawmakers have not hurt K Street's bottom line as several top lobbying shops reported strong revenue growth in 2007.
Patton Boggs continued to set the pace in terms of money generated by lobbying. The law firm earned $42.7 million in 2007, making it the first firm to earn more than $40 million in one year from advocacy. In 2006, Patton Boggs generated $35.1 million in revenue, which was also good enough to put it on top of The Hill's annual survey of lobbying revenue.
Akin Gump Strauss Hauer & Feld also enjoyed strong growth. Its revenues grew 24 percent on earnings of $32 million in 2007, compared to $25.9 million in 2006.
Other firms in the top 10 reported more modest increase in business. Van Scoyoc Associates made $28.8 million in 2007 compared to $28.6 million in 2006. Cassidy & Associates reported its lobbying group brought in $24.7 million, up slightly from 2006 when it reported $24.6 million (this figure does not include $4.3 million earned by The Rhoads Group, a subsidiary of Cassidy).