Toronto Public Library Board Meeting Highlights
TORONTO (December 10, 2013) – The Toronto Public Library Board met on December 9 at the Toronto Reference Library. Key topics discussed include:
Economic Impact of Toronto Public Library Services
The Martin Prosperity Institute, part of the Rotman School of Management at the University of Toronto, presented findings of its study So Much More: The Economic Impact of the Toronto Public Library System on the City of Toronto.
This is the first Canadian study to measure the library’s economic impact on Toronto. Results clearly demonstrate that Toronto Public Library delivers a strong return on investment through the delivery of library services that enhance Toronto’s competitiveness and prosperity and contribute to a better quality of life for all.
Key findings include:
- The total economic impact of the Toronto Public Library on the city of Toronto is $1 billion.
- For every dollar invested in Toronto Public Library, Torontonians receive $5.63 of value.
For those who use the library, the value of their library membership is as much as $500.
- On average, one open hour at any one of the library’s 98 branches generates $2,515 in benefits for the city of Toronto. The average cost of one open hour is $653, so the average benefit is almost 4 times the average cost.
- Beyond tangible benefits outlined in the report, the library delivers value to Toronto’s communities and residents in ways that are not easily quantifiable but nonetheless support Toronto’s economy, increase its competitiveness and prosperity and contribute to the city’s livability and quality of life.
Friends of Toronto Public Library – Total Donations Top $1 Million
Board Chair Paul Ainslie announced that the Friends of Toronto Public Library, North Chapter donated $73,000 to the Foundation in support of Leading to Reading. This donation brings the Friends’ cumulative giving to more than $1 million for this program. The Friends of Toronto Public Library, North Chapter, operate Book Ends, a volunteer-run used bookstore at North York Central Library. The Library Board expressed gratitude to the ongoing efforts of the volunteers in raising this impressive amount of funds.
Online and Social Media Policy
Toronto Public Library is one of the world's busiest urban public library systems. Every year, 19 million people visit our branches in neighbourhoods across the city and borrow 32 million items. To learn more about Toronto Public Library, visit our website at torontopubliclibrary.ca or call Answerline at 416-393-7131. To get the most current updates on what's happening at the library, follow us on Twitter @torontolibrary.
Ana-Maria Critchley, 416-393-7212, [email protected]