Economic study details impact of Woodstock library
“The library-conducted study indicates the Woodstock community reaps $7.20 in benefits for every $1 invested into the branch. The total economic benefit to Woodstock is estimated at $19.3 million through direct and indirect means, the study said.
Library CAO David Harvie said the intent of the study is to show the library’s worth to the broader community while breaking down the numbers for residents looking to see where their tax dollars are going.
“It’s interesting to show the value of the library in dollars and cents. … We intrinsically know the library is a good thing. There’s early literacy, digital literacy, promoting thought and intellectual freedom, as well as programming, but it is good to show our worth,” he said.”
“To read the entire report, visit: http://bit.ly/LibraryEconomicStudy.
Key numbers from the study
- 32 per cent of Woodstock residents have a library card
- $1 invested in the library can see $7.20 in benefit for the community
- The per-year value can help an individual save $478.17, a household $1,113.73 and an active library cardholder $1,508.42
- There were $4,427.34 in benefits for each hour the library was open
Woodstock Public Library rankings among libraries serving population between 30,000 and 50,000
- 5.41: Ranked first in turnover of print volumes
- 35.4: Ranked fourth in circulation per active cardholder
- 11.09: Ranked second in circulation per capita
- 323,100: Ranked second in library visits made in person
- 453,766: Ranked first in annual circulation
- 772,772: Ranked first in electronic visits to library website
- 74,828: Ranked third in annual circulation of e-books and downloadable items
- 61,256: Ranked third in number of times electronic databases accessed
- 1,416: Ranked third in programs annually held
- 28,014: Ranked fourth in library programming”