NASHVILLE PUBLIC LIBRARY IMPACT VALUED AT $94 MILLION
Independent Study Finds $3.06 Return on Investment for Every Dollar Spent
NASHVILLE, Tenn. - For every dollar it spends on programs, materials, and services, Nashville Public Library (NPL) provides $3.06 in value back to the community, according to an independent study by the Nashville Area Chamber of Commerce.
The study, which measured the value of NPL services and materials to every Davidson County resident, to the average local household and to the city as a whole, calculates NPL's direct economic benefit to the city of Nashville at more than $94 million.
The study includes two other notable numbers: the market value of NPL to every resident of Davidson County-totaling $141 per person-and the savings NPL can provide every household. An average Nashville household can realize annual savings $2,951 through library materials and resources, based on what patrons reported they would pay for similar products and services in a survey and on actual local retail value of these items.
NPL on Thursday will launch a community awareness campaign on its website and social media channels to promote the study and encourage everyone in Davidson County to sign up for a free library card.
Nashville Public Library ROI key findings:
. For every dollar it spends, NPL's return on investment to the city is $3.06
. A household that regularly uses NPL's services and collections can realize annual savings of $2951
. The direct benefit of NPL services and programs to the city of Nashville totals more than $94 million
"Nashville Public Library is a place where people learn, acquire new skills and invest in themselves, and that has a tremendous impact on the local economy," said Ralph Schulz, president and CEO, Nashville Area Chamber of Commerce. "But, beyond that, the library is a gathering place where our diverse communities come together to engage with each other and discuss important issues. The return on our investment in Nashville Public Library goes far beyond the dollars."
"I'm very proud of this three-to-one return on investment," said NPL Director Kent Oliver. "I've been saying for years that a Nashville Public Library card is the most important card in your wallet."
For the full study and accompanying visuals, visit: www.library.nashville.org/ROI (site goes live 5/12/16).
About Nashville Public Library
Nashville Public Library maintains a collection of 2 million items, including books, periodicals, DVDs, CDs, audiobooks, and downloadable books, movies and music. The Library also offers more than 800 public-use computers, free art exhibits, educational programs, events for all ages, 24/7 reference assistance, online databases, interlibrary loan and special collections. The Metro Archives, housed within Nashville Public Library, includes 5 million historic documents. Equal access is provided by the Talking Library audio reading service for the print disabled and Library Services for the Deaf and Hard of Hearing. For more information, call (615) 862-5800 or visit library.nashville.org.