Huron County, Ontario – Public libraries are critical cultural and social infrastructure for the communities they serve, and new findings released from the Valuing Ontario Libraries Toolkit show that every $1 invested in the Huron County Library generates $4.66 in Social Return on Investment (SROI).
SROI takes something offered at no charge and applies a dollar value to it. Impacts include direct spending, direct benefits and indirect benefits.
Developed in collaboration with the NORDIK Institute and the Ontario Library Service, the toolkit was developed to help Ontario libraries measure their value and impact within their communities. The toolkit specifically measured the SROI of library services on education, culture, inclusion and well-being, entertainment and leisure, economic development, civic engagement, and space.
Libraries are integral for building personal, entrepreneurial, and social capacity through access to information, programs and opportunities for community engagement. As a result, the overall economic benefit the Huron County Library has to the local community totals $17,555,981. Substantial impacts were shown in entertainment and leisure, valued at more than $10 million, and economic development, valued at over $3 million.
“The results demonstrate the significant impact the library has in our communities and supports the library’s continued work to bring people, information, and ideas together to enrich lives and support a thriving community,” said County of Huron Librarian and Director of Cultural Services Beth Rumble.
For more information about the Huron County Library and the full results of the SROI of library services, visit: https://www.huroncountylibrary.ca/