Study: You spend $1, Toledo library returns $4 in benefits

Study: You spend $1, Toledo library returns $4 in benefits

TOLEDO, OH (WTOL) - A recent study shows that area public libraries get a lot of bang for a buck!

The Toledo-Lucas County Public Library partnered with Howard Fleeter and associates for a "Return on Investment" study to gauge the benefit of taxpayer dollars.

The study showed that for every dollar invested, the library returns nearly $4 in benefit.

In order to accurately measure these benefits, economists assigned monetary values not only to items like books and electronics but also services.

"Libraries are more than just books you know. I think people appreciate that, and they know it has value. But it takes someone like me to actually put a number on the value." said economist Howard Fleeter.

The library tries to conduct studies like this every four or five years to make sure they are maximizing the public's benefit from their tax dollar.

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