Current status: Answered by Neil Gray on 19 June 2023
To ask the Scottish Government, further to the answer to question S6W-17015 by Neil Gray on 10 May 2023, what strategic economic and industrial assessment it has made of the potential impact that the loss of another FTSE 250-listed company's operational headquarters from Scotland would have, and what action it can take with the company to prevent this.
Capricorn Energy announced in February the intention to carry out a strategic review of its wider operations, which has culminated in the company citing a strong case for its rationalisation activities across the business.
Whilst Partnership Action for Continuing Employment (PACE) was offered to the company to support those individuals affected by the company’s decision to reduce their workforce, the company advised that this support was not required.
This is ultimately a matter for the company and no specific analysis has been undertaken by the Scottish Government in this instance but we know that some of the benefits of headquarters include quality jobs with higher wages, beneficial supply chain impacts and knowledge exchange, as well as contributing to a healthy labour market in senior management roles.
Scottish Government and our agencies continue to promote Scotland’s strength and capabilities to attract and retain those overseas owned businesses and organisations Headquartered in Scotland, as well as supporting existing Scottish domiciled businesses, making Scotland an attractive location for companies to innovate, grow and invest for the future.