VALUE CREATION

The building and construction industry is local in character. A tunnel or residential complex cannot be manufactured in a factory and then transported to its place of use, but must, to a large degree, be constructed on site by local labour. Veidekke's decentralised organisation gives regional operations a large degree of freedom to choose their own partners in the building process. As a result, substantial funds are spread throughout the districts helping to secure the financial foundation of local suppliers.

Veidekke's social account

To get a better picture of Veidekke's social value created, we have applied the social accounting model developed by the Confederation of Norwegian Enterprise (NHO) to our 2009 figures, as a starting point. Although calculations under the model are not to be considered accurate, they do provide a good overview of the total social value contribution of a company like Veidekke. In 2009, the accounts show an overall value creation in Norway of 9.8 billion, and a tax contribution of 4.2 billion (including Norwegian sub-contractors). This could finance just under 31 300 municipal day-care places. Veidekke employs 4 431 person-years, which creates 10 750 employed full-time positions among Norwegian sub-contractors. In total, this represents 7 872 person-years.