Scotland and the U.S. Strengthen Mutually Beneficial Business Relationships

 Scotland and the U.S. Strengthen Mutually Beneficial Business Relationships

Scottish Development International issues $14 million in grants to U.S.
financial services, oil & gas, technology and clean-tech corporations

PR Newswire

NEW YORK, May 6, 2014

NEW YORK, May 6, 2014 /PRNewswire/ --The Scottish Government and its
international trade and investment agency, Scottish Development International
(SDI), continued to strengthen cross-border business relationships between
Scotland and the United States during this year's Scotland Week, which took
place from April 3 – 8 in New York.

During the visit, Scotland's First Minister Alex Salmond announced a number of
Regional Selective Assistance (RSA) grants, totaling approximately $14
million, to five U.S. corporations across the financial services, oil and gas,
technology and clean tech industries. Recipients of the RSA grants included
financial services firms, Ceridian Corporation, Portfolio Recovery Associates
and Arthur J Gallagher & Company. American oil and gas multinational,
National Oilwell Varco and optical components manufacturer, Kaiam Corporation,
were also awarded grants.

RSA is a discretionary grant scheme which provides support to eligible
Scottish and foreign companies looking to expand their operations in Scotland,
with the goal of enhancing the global competitiveness of its economy.

Dr. Lena Wilson, Chief Executive of Scotland's main economic development
agency, Scottish Enterprise, accompanied the First Minister on his visit. Dr.
Lena Wilson said: "I am delighted that we are able to support the growth of
U.S. companies in Scotland, for the mutual benefit of both our economies.
These grants support significant investment from the companies themselves,
which is testament to Scotland's attractiveness as a platform to sustain and
accelerate growth in Europe."

During Scotland Week, SDI and the Scottish Government also announced the
opening of the first U.S. office of Scottish renewable energy company, Smarter
Grid Solutions. Based in New York, Smarter Grid Solutions will offer U.S.
organizations further access to the renewables experience, expertise and
technologies for which Scotland is recognized globally as an industry leader.

Scotland's energy sector is well-established and highly competitive, with more
than 45 years' experience in offshore technologies and around 2000 energy
companies currently in operation in the country, placing it in a strong
position to lead the world's diversification into renewables.

Dr. Wilson adds: "Both the U.S. and Scotland have emphasized the need for
investment in climate change resilience and domestic energy production that
will enable their respective industries to quickly develop sustainable
solutions. As Scotland continues to pursue renewable energy generation
targets equivalent to 100% of electricity consumption by 2020, we are proud to
play a role in the renewable energy efforts of the U.S. through shared
expertise, resources and technology."

About Scottish Development International

Scottish Development International (SDI) is a partnership between the Scottish
Government, Scottish Enterprise and Highlands and Islands Enterprise, which
works to attract inward investment to Scotland and assist Scottish based
companies to trade overseas. SDI opens doors to a range of opportunities in
funding, new technology, R&D and training for international organizations
interested in operating, partnering or collaborating in Scotland. SDI provides
potential investors with free business and strategic advice and provides the
support needed to make crucial business contacts across Scotland.

About Scottish Enterprise

Scottish Enterprise is Scotland's main economic development agency and aims to
deliver a significant, lasting effect on the Scottish economy. Our role is to
help identify and exploit the best opportunities for economic growth. We
support ambitious Scottish companies to compete within the global marketplace
and help build Scotland's globally competitive sectors. We also work with a
range of partners in the public and private sectors to attract new investment
to Scotland and to help create a world-class business environment.

SOURCE Scottish Development International

Contact: For further information, Scottish Development International, Aileen
Hotchkiss, / 0141 228 2848; FTI Consulting for
Scottish Development International, Raina Gajjar, / +1 212 850 5724
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