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Taxpayer Return on Investment in Florida Public Libraries

Taxpayer Return on Investment in Florida Public Libraries. Dr. José -Marie Griffiths October, 2004. Study Purpose. Identify: the economic contribution return on taxpayer investment of Florida’s public libraries. Background. Literature review Environmental economists REMI. Methods.

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Taxpayer Return on Investment in Florida Public Libraries

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  1. Taxpayer Return on Investment in Florida Public Libraries Dr. José-Marie Griffiths October, 2004

  2. Study Purpose Identify: • the economic contribution • return on taxpayer investment • of Florida’s public libraries

  3. Background • Literature review • Environmental economists • REMI

  4. Methods • Took a conservative approach to estimating benefits and returns thus the results can be considered a lower bound. • The return-on-investment (ROI) and benefit to cost ratios (B/C) in this report are at least those reported.

  5. Methods Used a variety of data collection and analytic methods including • data reported to the state by the libraries • a statewide household telephone survey of adults • in-library user surveys of adults • a follow-up survey of the libraries • surveys of organizations • an input-output econometric model

  6. Household Interviews/In-Library Survey Collected information about: • cost to use the library • services used • reasons for using the services • importance of the services; ways the services were important • what visitors would do to obtain the needed information if there were no public library • likely cost in time and money to use the alternatives

  7. Organization Survey Determined: • use of public library services • cost to use these services • savings resulting from service use

  8. Follow-up Survey Obtained some information about: • use by tourists and school age children • interlibrary lending and borrowing • expenditures and income • business-like operations run by the library, outside persons or vendors.

  9. Results

  10. Florida’s Public Libraries Return $6.54 for every $1.00 Invested

  11. Revenue Investment

  12. Total Investment

  13. Economic Return: $2.93 Billion

  14. New Jobs — 1 for every $6,448

  15. Florida’s Public Libraries Increase GRP

  16. Florida Public Libraries Increase Income in the State

  17. Florida’s Public Libraries are Extensively Used — 94 million In Person and Remote Visits 68 million in-person visits 25.2 million remote Internet connections (not including children or tourists)

  18. Florida’s Public Libraries are Used by 11.8 Million People Annually

  19. Florida’s Public Libraries are Used by All Segments of the Population Examples:

  20. What Do People Do When They Visit the Library?

  21. What Do People Do When They Visit the Library?

  22. What Do People Do When They Visit the Library?

  23. What Do People Do When They Visit the Library?

  24. What Do People Do When They Use Public Libraries Through Remote Internet Connections?

  25. People Use Public Libraries for ManyPurposes

  26. Recreational Uses • total of 19.2 million uses • 65 percent were in-person visits • 35 percent were remote Internet connections to the libraries. • In 59 percent of the visits, the users had something specific in mind.

  27. Personal Uses

  28. Educational Uses

  29. Work-Related Uses

  30. Public Libraries are Rated Important for All Purposes of Use

  31. Direct Benefits: $6.0 Billion/year

  32. $2.1 Billion to the Workplace

  33. $2.1 Billion Per Year to Education

  34. $1.6 Billion per Year to Personal Information Needs

  35. $136,000 per Year to Recreational Needs

  36. Direct Benefits: $6.0 Billion/year

  37. Benefit/Cost Ratios • The B/C (Availability) of Florida’s public libraries is 5.2 to 1. • $2,331.922 million ÷ $448.903 million = 5.2 • The benefit (B) to the state (in terms of availability of Florida’s public libraries) is $2.3 billion, measured as the total cost to use alternatives, if the public libraries did not exist. The cost (C) is $449 million.

  38. Benefit/Cost Ratios • The B/C (Use) of Florida’s public libraries is 7.2 to 1. • $3,211.219 million ÷ $448.903 million = 7.2 • The benefit (B) to the state (in terms of time and money saved through use of Florida’s public libraries) is $3.2 billion. The cost (C) is $449 million.

  39. B/C REMI • The B/CREMI (Wages) is 5.0 to 1 • The benefit (B) to the state (in terms of wages) is $9.2 billion. The cost (C) is $1.83 billion. • The B/CREMI (GRP) is 3.7 to 1 • The benefit to the state (in terms of GRP or output) is $6.7 billion. The cost (C) is $1.83 billion.

  40. Florida’s Public Libraries Return $6.54 for every $1.00 Invested

  41. Dr. José-Marie Griffiths Dean, School of Information and Library Science University of North Carolina at Chapel Hill Email: jmgriff@unc.edu Web: http://ils.unc.edu/sils/ Phone: (919) 962-8368

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