ROI is estimated at $4.62 for every taxpayer $1 generated in support of Minnesota's public libraries.
Return on investment (ROI)
The economic return to taxpayers is $4.06 per dollar of taxpayer support. The ROI is calculated by dividing the economic contribution of public libraries per capita ($134.16) by the public tax support per capita ($33.07). This return per dollar of taxpayer funds comes back to taxpayers in the form of the value of public library services and the direct economic contribution of public libraries to the state economy. In addition to the measurable services and expenditures that add value to the state economy, there are numerous other services that are valuable but at this time can’t be calculated from available data. The contributions of public libraries to overall literacy, to helping people with special needs, to supporting the efforts of K-12 schools, to providing community gathering space, and to supplying data needs of big and small businesses are additional and valuable contributions to the state economy (p. 33).
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
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 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.
... 92% of those polled felt that public libraries were a good investment for their tax dollars. And, when told that less than 1 percent of the county's budget and only four-tenths of 1 percent of the state's budget was spent on libraries, more than 60 percent stated that more money should be invested in libraries by both local and state government.
The B/C (Availability) of Florida's public libraries is 10.8 to 1 where the benefit to the state in terms of availability of Florida's public libraries is the total cost to use alternatives of $4.3 billion divided by the cost of $668 millions (includes cost of multi-type cooperative support to public libraries). The B/C (REMI Wages) is 7.5 to 1, where the benefit to the state in terms of wages is $21.8 billion and the cost is $2.9 billion. The B/C (REMI GRP) is 5.1 to 1, where the benefit to the state in terms of GRP output is $14.9 billion and the cost is $2.9 billion.
Overall, Florida's public libraries return $8.32 for every $1.00 from all sources. The total revenue investment in Florida's public libraries was $661.5 million in 2008. Based upon an analysis of what would happen if public libraries ceased to exist, the total economic return attributable to the existence of public libraries is $6.23 billion. For every $3,491 spent on public libraries from public funding sources in Florida, one job (in the economy, not just in libraries) is created. For every dollar of public support spent on public libraries in Florida, Gross Regional Product (the value of all goods and services produced in the state) increases by $10.57. For every dollar of public support spent on public libraries in Florida, income (wages) increases by $22.97.
The total direct and indirect return on investment for every $1 expended on the state's public libraries by SC state and local governments is $4.48--almost 350%! (p.5)
Among the findings are indications that the public library: - 49% of business users indicated that they obtained most of the business/research information from their public library - 78% of business users indicated that information obtained from the public library contributed to the success of their business - 59% of personal investors said they obtained the information needed for making investment decisions from their public library - 48% said "definitely" the investment information at the public library had contributed to their financial well-being and 34% said "somewhat"