Urban Library Council Creates Business Value Calculator for Member Libraries

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Urban Library Council Creates Business Value Calculator for Member Libraries

The Urban Libraries Council (ULC) introduced the Business Value Calculator, a new resource for members that was “developed specifically for public libraries to measure, quantify and communicate the impact of their business services on their local communities “. This will help them “learn new ways to communicate their economic value to city/county leaders, community partners and other local stakeholders.”

ULC piloted the Business Value Calculator with 10 member libraries. The savings figures they reported were millions of dollars for 1 year of business services. For example, despite “the changes imposed by the pandemic, the ULC member Pima County Public Library was able to provide more $1.3 million in value to their local business economy in 2021” (emphasis in original).

“Our local economies depend on the success of entrepreneurs and small businesses in our communities, but starting and growing a business is a major feat, especially for those who don’t have easy access to start-up networks and resources. That’s where public libraries come in,” says Susan Benton, president and CEO of ULC. “Entrepreneurs can meet one-on-one with business experts, attend skill-building workshops, use valuable databases, access free Wi-Fi and technology, and use the city’s coworking spaces. library. ULC’s new Business Value Calculator allows the library to measure and value its contribution to economic development.

For more information, read the Press release.

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