Woodstock Public Library (WPL) recently released the results of their economic impact survey using a methodology created by the Martin Prosperity Institute (MPI) at the University of Toronto for the Toronto Public Library. The study used Library activity data from 2018.
Key findings:
- The total economic benefit derived from Woodstock Public Library’s activities in 2018 was $19.3 million
- $7.20 in benefits for every $1.00 invested in the Library
- Additionally, WPL calculated,
- the value created per resident in Woodstock ($478.17)
- per household ($1,113.73), and
- per active library card holder ($1,508.42)
- $4,427.34 in benefits per open hour
- 32% of Woodstock residents are active users of the Library
The Woodstock Sentinel Review published an overview of the findings. The full report is available at Woodstock Public Library.
