Economic Impact

Americans still love their local libraries. A staggering 94% of Americans ages 16 and older said that having a public library is beneficial to the quality of life in a community, according to a 2013 study from Pew Research Center. Newbury’s rural recreation economy is an ideal place to start and grow a business, as well as an alternative to a big-city environment, and a wholesome place to raise a family. The new library will be key in helping achieve these important outcomes.

The new library can help impact the town’s economy and business sector by:

  • Building technology skills
  • Providing workforce development
  • Encouraging entrepreneurial activity
  • Offering access to career resources and opportunities
  • Promoting civic engagement for reading, discussions, and collaboration
  • Hosting small business meetings and social gatherings
  • Utilizing the free resources from libraries–everything from checking out magazines, using technology resources, and receiving free museum passes — can save households hundreds of dollars a year.
  • The return on investment for a public library varies, but research has generally shown that the money goes to good use. The median ROI for public libraries is about 4:1, meaning that the public value created by libraries was nearly four times greater than the tax money spent on them. Some libraries exceed 30:1.

Libraries improve the quality of life in a town:

  • Having more books in a home will improve a young child’s educational attainment later in life; for families, libraries help to reduce the financial burden of stocking a home library.
  • As of 2011, America was the only free-market country where the current young adult generation was less educated than the previous one. The promotion of library services leads to higher literacy rates.
  • Our library has job and employment resources, and it is estimated that nationwide, roughly 30 million people use those kinds of resources in their career search each year.
  • Programming at our library, such as classes on first aid, exercise or home gardening, can help improve people’s health.
  • Internet access, especially in the age of remote work and schooling, is a vital part of digital inclusion. A 2017 report found that access to high-speed internet (along with early childhood education) is a top priority for advancing community goals, according to local city and county government leaders nationwide, and that libraries play a lead role in providing that access. Our library offers 24/7 access to high-speed wireless internet.
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