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

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Presentation on theme: "Taxpayer Return on Investment in Florida Public Libraries Dr. José -Marie Griffiths October, 2004."— Presentation transcript:

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 Floridas 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 Floridas 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 Floridas Public Libraries Increase GRP

16 Florida Public Libraries Increase Income in the State

17 Floridas 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 Floridas Public Libraries are Used by 11.8 Million People Annually

19 Floridas Public Libraries are Used by All Segments of the Population Examples:

20 What Do People Do When They Visit the Library?

21

22

23

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

25 People Use Public Libraries for Many Purposes

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 Floridas 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 Floridas 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 Floridas 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 Floridas public libraries) is $3.2 billion. The cost (C) is $449 million.

39 B/C REMI The B/C REMI (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/C REMI (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 Floridas 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.edujmgriff@unc.edu Web: http://ils.unc.edu/sils/http://ils.unc.edu/sils/ Phone: (919) 962-8368


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