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 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.