Libraries ‘worth at least £3.4bn’ to economy

Libraries across England generate at least £3.4bn in value a year to the economy through the services they provide, a study has found.

The Guardian reports that researchers at the University of East Anglia discovered that the services a typical branch provides in a year are worth £1m.

The study found the overall value of libraries, through supporting children’s literacy, digital inclusion and health, could equate to six times their running costs.

The project was funded by library services in the east of England and received a £30,000 contribution from Arts Council England (ACE).

“The evidence is clear: investing in libraries brings huge returns for local communities and the public purse,” Isobel Hunter, Chief Executive of Libraries Connected, the charity that commissioned the report, said.

Luke Burton, Director for Libraries at ACE said he hopes the UEA report can help make the case to potential partners and funders to support libraries.