Public Libraries: A Smart Investment for Texas

February 2, 2017 at 1:45 pm brownwoodnewsstaff

Jan McLaughlin, children’s librarian at the Brownwood Public Library, shared stories, music and rhymes with children twice a week at 10:30 on Tuesdays and Thursdays.

Press Release – In FY 2015, Texas public libraries generated $2.628 billion in economic benefits to the state, and offered a sizable return on investment of $4.64 for every one dollar spent according to a study released by the Texas State Library and Archives Commission (TSLAC).

“The Brownwood Library is proving invaluable to the Brown County community. Just comparing January 2017 to January 2016, usage of library materials has increased 150 percent,” said Becky Isbell, Library Director. “It’s a very exciting time for the library right now. I’m regularly hearing from people who just found out about some of the resources we offer, such as ebooks, DVDs, study guides and courses for state and industry tests, storytime, language courses, magazines, local history and more.”

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Texas public libraries produced $976 million in direct economic activity and 11,000 jobs were dependent on library expenditures. Our state also benefits from the $1.652 billion worth of services, including educational programs, Internet and computer access, electronic databases, circulation of materials, reference services, in-library use of books, volunteer opportunities, and wireless access public libraries offer. While Texas public libraries cost $566 million in FY 2015, they provided a return of investment of $4.64 for each dollar spent, a 5% increase in ROI since the last study conducted in FY 2011.

“At a time when taxpayers want accountability as well as support for education and economic growth, libraries deliver both,” said TSLAC Director and Librarian Mark Smith. “The study quantifies what most Texans understand – our public libraries bring tremendous value and function as key engines of economic vitality in their communities.”

The report, Texas Public Libraries: Economic Benefits and Return on Investment was conducted by the University of Texas at Austin’s Bureau of Business Research IC2 using a data-intensive process to document and quantify economic benefits. Researchers used a conservative approach and valued public libraries purely as business and organizational entities using extensive databases from TSLAC in conjunction with input-out economic modeling software.

For more information and the full report, go to tsl.texas.gov/roi.