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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 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 • 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.
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
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
Organization Survey Determined: • use of public library services • cost to use these services • savings resulting from service use
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.
Florida’s Public Libraries Return $6.54 for every $1.00 Invested
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)
Florida’s Public Libraries are Used by 11.8 Million People Annually
Florida’s Public Libraries are Used by All Segments of the Population Examples:
What Do People Do When They Use Public Libraries Through Remote Internet Connections?
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.
Public Libraries are Rated Important for All Purposes of Use
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.
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.
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.
Florida’s Public Libraries Return $6.54 for every $1.00 Invested
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