Quote:
Originally Posted by Monahammer
This is an interesting question, i suspect you asked it indignantly/ to try and make a point about public investment in the library.
I would be willing to bet that the outcome would be different than you expect.
Here's a great study done by the Indiana Business Research Centre on the economic impact of Indiana's public library system: https://www.ibrc.indiana.edu/studies...aries_2007.pdf
The executive summary notes that direct economic benefit of $2.38 resulted from every $1 of cost on libraries (not including any indirect impact, which the arena $$ return value you posted certainly does.)
If proportional, that study would imply that calgary's central library will generate ~ ($245 million *$2.38/1$)= $583.1 million
Let's round down and say $500 million in direct economic value according to academics. |
That's a good view.
I think the only disclaimer should be that the study listed is looking at a library system that was more widespread and broader reaching.
In comparison to the Calgary investing the money in revamping a single central library.
Not 100% clear if you get the same return on a single library vs having a more broad and accessible network of libraries across multiple locations.