The OLC has issued a statewide return on investment report of Ohio’s public libraries and the economic benefit they provide to Ohio and its residents. The report was released at the Statehouse today.
“Based on every measure in the report, Ohio’s investment in public libraries is both cost effective and of high value to Ohio residents,” said Dr. Howard Fleeter, an economist and public policy researcher based in Columbus. “Today’s findings confirm Ohio’s status as the nation’s premier provider of library services.”
The report shows that Ohio’s public libraries save Ohioans money and also directly benefit the state’s economy. Public library services in Ohio are worth nearly $2.7 billion. For every dollar spent across Ohio by public libraries in 2014, Ohioans received $5.48 in total economic value.
Ohio residents take advantage of the benefits and visit their local libraries often. According to the report, Ohio has the highest library use per capita in the nation. Compared to other states, Ohio libraries are also more cost efficient with one of the lowest cost per transaction rates in the country. Ohio’s figure of $2.88 is well below the national average. View an executive summary or download the full report.