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. This study has been added to the LRN List of Canadian Public Library Impact Studies.
