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County Level ROI and REMI Modeling Results
Using statewide per capita averages and the individual county REMI results from Scenario 1, the following reports show both an estimated ROI for each county’s libraries, as well as economic impact results for these libraries’ spending in each Florida county. The ROI figures range from $2.58 for each dollar invested in Lee County to $30.35 for each dollar in Holmes County. It must be emphasized that these are rough estimates only, and each individual library or library system would have to be studied separately in order to refine these figures. It should also be noted that these ROI figures do not necessarily reflect upon the efficiency of library operations in that a lower number is “bad” and a higher number “good.” Instead, they demonstrate that even a small investment that keeps a library in existence within a community, no matter that community’s size, yields an extremely high value to that community. As stated in Are You Worth It? What Return on Investment Can and Can’t Tell You About Your Library, “For ROI library metrics, the point isn’t that putting more and more money into libraries will yield ever increasing returns. The point is to show that libraries are providing value for the money that is invested in them. Those investments should be commensurate with the needs of the communities they serve.” Essentially libraries are a public service that, when provided with the right amount of resources and investment, produce significant returns to their community.
In terms of economic impact, the economic impact results reflect a positive net economic impact of libraries on the individual county economies for 66 of the 67 counties. The sole exception is Suwannee County. While the libraries there return $7.40 for each dollar invested, the structure of county economy in the REMI model is such that a redistribution of library spending to other government sectors does not result in decreased GRP.
It helped my husband find his current job. Helped us find a workable budget for our home use. Our children have spent countless hours borrowing books and DVDs. The library helped us feel a part of the community.
Escambia County Library User
