Posted by: bluesyemre | August 10, 2018

The Return-On-Investment from your #PublicLibrary is unbelievable! by Oleg Kagan


If libraries were a business, you’d want to buy that stock…

Wise investors know a good deal when they see it, which is why so many people who are smart and rich love their public library. It’s simple, really, if you consider what the average U.S. household pays for library services (~$7.50/month) and put that next to a public library’s vast offerings, the point is obvious. For under ten dollars you get thousands of books, music, movies, wholesome activities for kids, very expensive market research databases, and a much, much more.

But say you’re still not convinced that libraries are a smart investment. Okay, what if I tell you that over and over again research has shown that the Return-on-Investment (ROI) for your local library is around $5 (but could be up to $9), for every dollar spent. It’s true: for every dollar that communities invest in library services they get five back!

Is this a killer deal? Of course it is! It’s why nearly every personal finance guru sings the praises of libraries. Note, these are not abstract benefits like how libraries help build a stronger Democracy, or how they inspire curiosity in people, a library’s ROI is the institution’s worth in cold hard cash. This doesn’t just translate to value for the individual either, a well-funded library raises surrounding property values, helps develop an intelligent workforce (making your area attractive for cutting-edge companies), and makes local social services more efficient. Heck, as a teenager, I learned basic job skills through a program at my library. It’s where I wrote my first resumé!

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.


%d bloggers like this: