Economic Impact

Proximity to the library has value

Users who stop at the library while completing a longer list of errands report "halo" spending at firms and establishments close to the library. Although this spending is not part of an economic impact statement of Minnesota's public libraries, it is also true that proximity to a library increases spending for those businesses located near the library.

Social Return on Investment in Public Libraries

The social return on investment from Minnesota public libraries is greater than simply the measureable return on investment. Other benefits of significant value include the collection of materials itself, and the many services of the library; the educational programs, as well as the educational benefits of the library's mission including literacy of the citizenry; technology for use in the library; the expertise of the library staff; the library facility as a community gathering place; the "halo" spending by library users at establishments close to the library; and the value of a library's enhancement to neighborhood real estate and community partnerships.

Value of Public Library Reference Transactions

Reference Transactions – The basic methodology for calculating the value of reference transactions is based on estimates made for the recent Wisconsin library study (2008), but here inflated to 2010 dollars. Bibliostat reports reference transactions numbering 3,591,200. These are valued at $4.32 each, resulting in a total value of $15,513,984.

Value of Public Internet Computers at the Library

Public Internet Computers – The basic methodology for calculating the value of computer and internet access is based on estimates made for the recent Wisconsin library study (2008), but here inflated to 2010 dollars. Bibliostat reports traffic estimated at 7,070,855 access events, valued at $4.32 each, resulting in a total value of $30,546,094.
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