Economic Impact

Libraries ROI

ROI is estimated at $4.62 for every taxpayer $1 generated in support of Minnesota's public libraries.

Libraries create jobs in the following industries

Jobs are created in the following industries by the spending of public libraries:Special (S&LG Non-Ed Emp & Payroll),Book publishers,Real estate establishments,Electric power generation- transmission,Wholesale trade businesses,Food services and drinking places,Maint & repair construct of nonresident,Private hospitals,Telecommunications,Offices of physicians- dentists- and other health care,Other state and local government enterprises,Natural gas distribution,Civic- social- professional- and similar,Insurance carriers,Petroleum refineries,Monetary authorities and depository credit,Printing,Transport by truck,Nondepository credit intermediation,Newspaper publishers,Legal services,US Postal Service,Nursing and residential care facilities,Retail Stores - Food and beverage,and Management of companies and enterprises

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. 

The average household would be willing to donate between $31.7 and $38.3 US dollars

The average household would be willing and able to donate [to public libraries] between $31.7 and $38.3 US dollars annually, resulting in a total donation for Minnesota’s approximately 2,061,882 households of $65.4 to $79.0 million annually.

Support of libraries does not vary by gender

There is no statistically significant difference between men and women on the question of whether public library support should be increased, remain the same, or be decreased, although in both cases the vast majority felt that public library support should stay the same or increase.

Nearby businesses benefit from their proximity to a library

Looking specifically at purchasing by library customers, more than half of the visitors to the library spend $5 or less on a typical visit, with most of these expenditures at restaurants, coffee or food shops, as well as pharmacies and the post office... Using the most conservative estimate from our survey, this spending data translates into a weighted average of visitors spending $7.05 on a typical visit to the library. A more like estimate is that visitors spend $9.54 per visit. Given these ranges and the number of visits generated by the library, these customers spend a total of $9.8 million to $15.6 million annually at nearby businesses. (p.8)

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)

Pages

Subscribe to Economic Impact