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Statewide
In Scenario 1, government spending that would have been directed to public libraries was redirected to other government spending activities. In Scenario 2, tax dollars are not collected and public library spending is redirected to consumers. Results are presented in 2008 dollars. Discounting analysis using a rate of 5% was used to present the economic impacts for years 2008 through 2040. Results for both scenarios are presented in Table 2 in comparison to results from 2004.
In Scenario 1, Gross Regional Product increases over $7 billion as a result of public library spending in Florida. This library-generated rise in state output increases wages by $15.2 billion and the number of jobs by 189,500 over the period. This in turn creates higher wage and salary earnings.
Table 2 - Results of REMI Analysis
Prior 2004 study findings based on redistrbuted government spending |
Scenario 1 Redistributed library spending within the government |
Scenario 2 Removed spending and reallocated it to consumers |
|
| Total Revenue Investment (TRI) (millions | $443 |
$661.5 |
$661.5 |
| Gross Regional Product (net present value) (billions) | $4 |
$7.24 |
$14.6 |
| Wages (net present value) (billions) (personal income) | $5.6 |
$15.2 |
$32.09 |
| Number of jobs produced | 68,700 |
189,500 |
455,413 |
| Average jobs produced (divided by 32) | 2,147 |
5,921 |
14,231 |
| Gross Regional Product increase for every dollar spent (GRP/TRI) | $9.08 |
$10.94 |
$22.07 |
| Income increase for every dollar spent (Wages/TRI) | $12.66 |
$22.97 |
$48.51 |
| One job created by every dollar spent (TRI/Number of jobs produced) | $6,488 |
$3,491 |
$1452 |
| Cost for users to use library (in time) (billions) | $1.83 |
$2.9 |
$2.9 |
| Benefit to state in terms of wages (GRP + Wages - TRI) (billions) | $9.2 |
$21.8 |
$46 |
| Benefit to cost ratio wages (Benefit to state/cost of users time) | 5 to 1 |
7.5 to 1 |
15.8 to 1 |
| Net benefit wages (Benefit to state-cost for users to use library) (billions) | $7.4 |
$18.9 |
$43.1 |
| Gross Regional Product (billions) | $6.7 |
$14.96 |
$32.8 |
| Benefit to cost ratio GRP (GRP/cost for users to use library) | 3.7 to 1 |
5.1 to 1 |
11.3 to 1 |
| Net benefit GRP (GRP - Cost for users to use library) (billions) | $4.9 |
$12 |
$40.2 |
The “benefits” to the State of Florida from a conservative perspective are defined as the total dollar amount leveraged by the investment in libraries based on all public funding sources. The “costs” to the State of Florida are defined as the initial public funding investment assumed to be redistributed to alternative government spending activities. Thus, if the funding for libraries were reallocated across Florida’s government sectors (Scenario 1), the state economy would see a net decline of $21.8 billion in terms of wages and 189,500 jobs in the 33-year period considered.
• Benefit to the state (in terms of wages) = $21.8 billion
• Cost to the state (in terms of public funding dollars and user time) = $2.9 billion
• B/CREMI = 7.5
Or:
• Benefit to the state (in terms of GRP or output) = $14.9 billion
• Cost to the state (in terms of public funding dollars and user time) = $2.9 billion
• B/CREMI = 5.1
The results of the economic analysis using the REMI model indicate that Florida public libraries contribute significantly to the Florida economy. The economic benefits from the expenditures made by the public libraries extend to job creation, generation of GRP and personal income. These benefits are substantially greater than the federal, state and local investment cost in public libraries.
To place the full value of public library spending in context, the $622 million of public library spending that occurred in 2008 generated over $1 billion in GRP. This amount was larger than the annual GRP of 26 of the 67 Florida counties.
Table 3 - Comparison of Public Library Generated GRP with Florida Counties
| County Name | 2008 GRP |
County Name | 2008 GRP |
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| Lafayette | $ | 124,831,000 |
Citrus | $ | 2,451,449,000 |
|
| Glades | $ | 139,712,000 |
Santa Rosa | $ | 2,52,6042,000 |
|
| Dixie | $ | 198,020,000 |
Hernando | $ | 2,605,485,000 |
|
| Calhoun | $ | 207,261,000 |
Clay | $ | 3,103,414,000 |
|
| Liberty | $ | 216,753,000 |
Charlotte | $ | 3,177,848,000 |
|
| Franklin | $ | 227,992,000 |
Monroe | $ | 3,366,391,000 |
|
| Gilchrist | $ | 237,200,000 |
Indian River | $ | 3,979,188,000 |
|
| Jefferson | $ | 237,693,000 |
St. Johns | $ | 4,449,442,000 |
|
| Gulf | $ | 288,643,000 |
Martin | $ | 4,982,951,000 |
|
| Holmes | $ | 291,745,000 |
Osceola | $ | 5,060,401,000 |
|
| Union | $ | 307,202,000 |
St. Lucie | $ | 5,446,656,000 |
|
| Hamilton | $ | 316,945,000 |
Lake | $ | 5,913,078,000 |
|
| Madison | $ | 318,877,000 |
Bay | $ | 6,053,135,000 |
|
| Wakulla | $ | 413,592,000 |
Pasco | $ | 6,848,556,000 |
|
| Washington | $ | 436,190,000 |
Marion | $ | 7,327,275,000 |
|
| Baker | $ | 476,012,000 |
Okaloosa | $ | 8,762,548,000 |
|
| Taylor | $ | 537,363,000 |
Manatee | $ | 9,884,831,000 |
|
| Bradford | $ | 539,972,000 |
Alachua | $ | 10,053,414,000 |
|
| Levy | $ | 601,400,000 |
Escambia | $ | 11,243,247,000 |
|
| Hardee | $ | 620,918,000 |
Volusia | $ | 11,592,228,000 |
|
| DeSoto | $ | 747,420,000 |
Collier | $ | 11,758,452,000 |
|
| Suwannee | $ | 753,463,000 |
Leon | $ | 12,072,757,000 |
|
| Okeechobee | $ | 761,064,000 |
Sarasota | $ | 12,789,643,000 |
|
| Hendry | $ | 966,323,000 |
Seminole | $ | 15,651,569,000 |
|
| Gadsden | $ | 1,026,974,000 |
Polk | $ | 16,255,671,000 |
|
| Jackson | $ | 1,073,017,000 |
Lee | $ | 18,015,989,000 |
|
| Florida Public Libraries | $ | 1,076,140,000 |
Brevard | $ | 18,444,293,000 |
|
| Flagler | $ | 1,181,113,000 |
Pinellas | $ | 36,070,794,000 |
|
| Putnam | $ | 1,318,113,000 |
Duval | $ | 47,785,422,000 |
|
| Walton | $ | 1,423,502,000 |
Palm Beach | $ | 55,108,141,000 |
|
| Sumter | $ | 1,510,411,000 |
Hillsborough | $ | 59,347,846,000 |
|
| Nassau | $ | 1,581,294,000 |
Orange | $ | 60,661,076,000 |
|
| Columbia | $ | 1,711,173,000 |
Broward | $ | 69,503,075,000 |
|
| Highlands | $ | 1,899,886,000 |
Miami-Dade | $ | 103,816,165,000 |
|
Figures in 2004 dollars Source: Woods & Poole Economics; REMI |
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