Unlocking the economic and social benefits of libraries

Ten minutes before the library in my hometown opens, you will find at least a dozen people eagerly waiting in the lobby, inching closer until the doors swing open and the lights turn on. At closing, another dozen hang around until the lights dim and the doors latch shut. Between these hours, the essential work of the library takes place.

Children develop a love of reading. Seniors learn to navigate new technologies. Immigrants and refugees find resources to build their new lives. People with disabilities access services that might be for-profit elsewhere. People of all ages find solace in books for education and recreation. And let’s not forget — all of these services are led by library staff.

Libraries can be beacons of change for transformative inclusion. Too many libraries were built with ableist, racist, homophobic, and transphobic policies — but we are seeing a gradual shift toward greater inclusion and more opportunities for dialogue, with much work still to do. Other organizations are part of this change and often use libraries as launch pads for their social justice work.

The societal benefits of libraries — both socially and economically — are obvious, if we tell their stories properly.

Hundreds of libraries globally have investigated their economic return on investment (ROI), a measure of the value generated for every dollar invested. From Australia to South Korea to Canada, researchers consistently find that for every dollar invested in the library, an average of 3 to 7 dollars is pumped back into the community. Even across different methods of calculating ROI, the math shows a significant return.

Most libraries in Canada and the United States have eliminated membership fees and late fees, an important step toward equitable access. With no user fees and only a handful of tax dollars per year, the individual economic benefit is clear: For every book you sign out from your local library, your cost savings are the cover price of the book. For every program you attend, your cost savings are the admission fee you would pay to access a similar service elsewhere. To put it simply, the individual economic benefit of libraries is profound.

Today, we are living through one of the most difficult eras in living memory, at the intersection of multiple pandemics, an unsteady global economy, extreme social inequities, multiple devastating wars, and a climate emergency. And libraries can be a key force of change through all of these challenges.

In our darkest eras, libraries light the way. If we recognize the transformative impact of libraries and tell these stories properly, we can ensure that they continue lighting the way to a better future.

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