1. Social Commitment
  2. Local economic development
  3. Volver

Ferrovial

Ferrovial - Integrated annual report 2013 / Local economic development

Local economic development

As an infrastructure manager, Ferrovial plays a fundamental role in the development of local economies. The nature of its business makes Ferrovial a key player in reducing geographical imbalances, as the provision of infrastructures in a region determines its economic development.

Generation of local employment

The company is also active around the world, where it creates employment at the local level and promotes sourcing from local suppliers. Ferrovial is currently present in 26 countries. Despite the economic crisis, Ferrovial has maintained job creation in the main markets where it operates.

Local sourcing

Ferrovial has a purchasing policy that is adapted to its international expansion, while maintaining the goal of strengthening long-term relations with suppliers and subcontractors. To achieve this, the centralized management needed to supply all of the company’s projects is combined with a decentralized approach that allows local project managers to establish strong ties with local subcontractors, who in general have less global exposure.

However, given that the company operates worldwide, in the case of the most important purchases prices are checked internationally to take advantage of the competitiveness offered by other markets around the world.

Management of the supply chain is one of the basic aspects of Ferrovial’s environmental management in some business areas, such as Construction and Services, where the level of subcontracting can be significant and the sustainability of many projects depends largely on the performance that the company can demand from suppliers and contractors.

Local investment

The company pursues social investment programs in the areas where it carries out its business activity. Hence, the countries that have benefited from most of the social investment are Spain (62% of total voluntary work) and the UK (17% of total voluntary work). These are the geographical areas that concentrate most of the company’s activities.

Local contribution - taxes paid

Ferrovial is aware of the importance of its contribution to the local economy and maintains a strict policy regarding its tax payments in the countries where it operates. (See Note 21 “Tax Situation” in the Financial Statement).