On a state level, the energetic refurbishment of the building stock would help increase the overall social well-being and the reduced demand for energy would lead to a greater security of energy supply. In a study of economic benefits of renovation of apartment buildings in Estonia it was found that 17 jobs per EUR 1 million of investment in renovation were generated per year (Pikas etal. Out of these 17 jobs, 10 had been created on the construction site, 1 in the consultancy and 6 in manufacturing industries. Direct tax revenue was between 32-33%, depending on the renovation project (ibid.).