The Return-On-Investment from Your Public Library is Unbelievable! via Medium (EveryLibrary)

The Return-On-Investment from Your Public Library is Unbelievable!

If libraries were a business, you’d want to buy that stock

Medium.com (EveryLibrary):  7.17.2018 by Oleg Kagan

Wise investors know a good deal when they see it, which is why so many people who are smart and rich love their public library. It’s simple, really, if you consider what the average U.S. household pays for library services (~$7.50/month) and put that next to a public library’s vast offerings, the point is obvious. For under ten dollars you get thousands of books, music, movies, wholesome activities for kids, very expensive market research databases, and a much, much more.

But say you’re still not convinced that libraries are a smart investment. Okay, what if I tell you that over and over again research has shown that the Return-on-Investment (ROI) for your local library is around $5 (but could be up to $9), for every dollar spent. It’s true: for every dollar that communities invest in library services they get five back!

Is this a killer deal? Of course it is! It’s why nearly every personal finance guru sings the praises of libraries. Note, these are not abstract benefits like how libraries help build a stronger Democracy, or how they inspire curiosity in people, a library’s ROI is the institution’s worth in cold hard cash. This doesn’t just translate to value for the individual either, a well-funded library raises surrounding property values, helps develop an intelligent workforce (making your area attractive for cutting-edge companies), and makes local social services more efficient.  READ MORE >>

Library / Literacy Funding

Return On Investment - ROI

Economic Impact of Public Libraries (various ROIs), WI Dept Public Instruction

Libraries Matter: Impact Research: Bibliography, ALA

Public Libraries – A Wise Investment - Library Research Service

2018

From Awareness to Funding: Voter Perceptions and Support of Public Libraries, OCLC

2017
Library & Literacy Funding Chart: FY 2017 -by President, House, and Senate, ALA (excel file)

2011
Public Library Funding & Technology Access Study, ALA
2008
From Awareness to Funding: A Study of Library Support in America, OCLC
2007

Worth Their Weight: Assessment . . . Library Valuation, Americans for Libraries Council