General Economic Impact

Direct and indirect economic benefits of public libraries

An economic analysis model on the circular flow of economic activity involving libraries looks at indirect demand and measures economic spin-offs. Taking into account both direct and indirect impacts, in 1993/1994 Ontario public libraries contributed $486 million to the GDP. The direct and indirect impact in terms of jobs reached more than 9.000 in 1993/1994. Government direct and indirect revenues generated by public library activity in Ontario, calculated from direct and indirect taxes, duties, and from the sale of cultural goods and services are estimated to generate almost $38 million in revenue to various levels of government (22).

Public Libraries ROI

for every dollar of direct spending on operations payroll, libraries generate $0.53 in additional spending in the economy of Minnesota. In the same way, for every dollar of direct spending on operations services, libraries generate $0.74 in additional spending in Minnesota's economy

Public Libraries Create Jobs

The public libraries of MN create jobs: Capital Expenditures: The impact of jobs (the employment measure) associated with public library capital expenditures delivers an estimated total impact of 528 jobs to the State, including the 327 jobs directly related to library capital expenditures, as well as 201 additional (induced and indirect effect) jobs dependent on the libraries' capital expenditures in the state. Operations: The impact of jobs (the employment measure) associated with public library operations delivers an estimated total impact of 3,674 jobs to the State, including the 2,470 jobs directly related to library operations, as well as 1,204 additional (induced and indirect effect) jobs dependent on the libraries' operations in the State.

Public Library of MN add to the state economy

The public libraries of MN on the state economyCapital Expenditures: The impact of payroll  associated with public library capital expenditures delivers an impact of more than $35.5 million dollars to the State. Operations: The impact of payroll associated with public library operations delivers an impact of more than $260.8 million dollars to the State.Capital Expenditures: The impact of sales associated with public library capital expenditures delivers an impact of more than $65.3 million dollars to the State. Operations: The impact of sales [services] associated with public library operations delivers an impact of more than $366.4 million dollars to the State. 

Public libraries can help high schools prepare students for college or 21st century careers

Public libraries can help high schools prepare students for college or 21st century careers. High schools are struggling to provide the skills that students need if they are to achieve success in college and in today’s workplace. In a 2006 poll of over 400 companies, researchers found that “new entrants to the U.S. workforce generally disappoint those who would like to give them their first job. High school-educated workers lack the level of ability employers seek in everything from writing and work ethic to oral communication.” The most important skills cited by employers fall into the area of applied or “soft” skills: professionalism and work ethic, oral and written communications, teamwork and collaboration, and critical thinking and problem solving. These skills are also essential to college success.

Economic Output of the Carnegie Library

In 2004 Carnegie Library of Pittsburgh supported more than 900 jobs and $80 million in economic output in Allegheny County through its operations and renovations. Even without the additional impact of these renovations, the library can be expected to sustain more than 700 jobs and more than $63 million in economic output in Allegheny County annually. (p.2)

Economic Vitality Brought with Seattle Central Library

The Library is associated with $16 million in net new spending in Seattle in its first year of operations--equal to $80 million for 5 years, $160 million for 10 years, or $320 million over a 20-year period. Nearby businesses report increases in spending associated with visitors to the Central Library. Increases in the use of Library resources contributes to learning, literacy, business productivity, personal and professional developments, and individual livelihood.

Added value to homes and neighborhoods

Homes within ¼ mile of a Library are worth, on average, $9,630 more than homes more than ¼ mile from a Library. For homes between ¼ and ½ mile of a Library, the additional value is $650.Libraries are responsible for $698 million in home values in Philadelphia. That’s an increase in home values that homeowners can borrow against to finance education, home improvements and other types of spending.The additional home values generated by proximity to a Library produce an additional $18.5 million in property taxes to the City and School District each year. Under a scenario of accurate and timely assessments, this is how much property tax revenue could be lost per year if all libraries were closed.

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