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Positive Return on Investment

Public libraries provide tremendous value for individuals, for neighborhoods, for cities, for states and for our country. Beyond the resources they provide, they can affect positive trends such as higher property values, lower crime rates and literacy improvements. But for cash-strapped communities, it’s hard to make the connection between cutting library funding and what that really means for the surrounding communities. So, what is the true return on investment (ROI) for libraries?

According to a report from the Oslo University College in Oslo, Norway, investing in libraries makes sense. The report analyzed over 30 studies focused on library ROI and found that for every taxpayer dollar invested in public libraries, there is an average four-to-five time return for citizens. The study also indicates that connecting dollars and cents to the library helps people understand the true value.

As libraries across the country are facing difficult funding scenarios such as closing one, two or all branches, or cutting hours and staff, we want to encourage you to take preventative measures in your community. Talk to friends and colleagues about your public library not just in terms of resources such as books and computers, but also the tangible return on investment that is possible for both individuals and communities.

September 24, 2009 funding, libraries, news, norway, report, return on investment, trends