The Public Library of Cincinnati and Hamilton County is among the most cost-effective libraries in the state of Ohio — and the nation — according to a new report just released by the Ohio Library Council (OLC).
The Ohio Public Libraries ROI Report, released April 13, shows Ohio’s investment in public libraries is both cost-effective and of high value to Ohio residents.
For every dollar spent in Ohio by public libraries in 2013, Ohioans received $5.48 in total economic value. Ohio has the highest library use per capita in the nation and the state’s cost per transaction rate of $2.88 is well below the national average.
But the return on investment is even more significant for those served by the Public Library of Cincinnati and Hamilton County, where residents get $6.73 in value for every dollar invested. The Public Library of Cincinnati and Hamilton County’s cost per transaction rate of $2.30 is more than half a dollar below the state’s average and well below the national average of $3.56. And the Library’s transaction per capita rate of 28 outpaces the state average of 20.33 use transactions per capita and is significantly higher than the national average of 9.81 use transactions per capita.
“This report clearly shows, in black and white, the economic value of the Library for the community we serve,” said Kimber L. Fender, the Eva Jane Romaine Coombe Director of the Library. “We take the responsibility of good stewardship very seriously and are proud of our ability to give the community the most value possible while keeping costs at a minimum.”
The full report from the OLC is available on its website.