Study will be first of its kind
in Canada
Toronto (June 18, 2013) – Toronto Public
Library has commissioned the Martin Prosperity Institute, part of the Rotman
School of Management at the University of Toronto, to develop a study that will
determine the Library’s economic impact on the City of Toronto. The study is being funded by the Toronto Public Library
Foundation thanks to a generous donation from TD Bank Group and a contribution
from the Estate of Norman G. Hinton.
“We are thrilled to be working with Toronto Public Library to develop
this important study, a first in Canada, which will demonstrate the economic
importance of the Toronto Public Library system to our city,” said Kevin
Stolarick, MPI Research Director. “Through the use of empirical and qualitative
evidence, the measurements and models we develop will be key in measuring
impact over the long term, and will also be a useful tool for public library
systems across Canada”.
The Toronto Public Library Board, as well as City Council, requested
this study that will measure in concrete terms the return on investment for
public library service and the value provided to Toronto residents.
“We hear time and time again that libraries profoundly impact individual
lives, neigbourhoods and the whole community. We’re now interested in examining
the economic impact of Toronto Public Library on our city. The study will
include a cost-benefit analysis of the Library’s open hours policy,” said Paul
Ainslie, Chair of the Toronto Public Library Board. “It is particularly important to demonstrate
value to residents in this time of fiscal restraint. We’re pleased that the
Library is working with Martin Prosperity Institute on this significant study.”
The study will be conducted over the summer and be presented to the
Toronto Public Library Board in the fall. It is one of the key activities
listed in the Library’s Strategic Plan-
2012-2015
About Toronto Public Library
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.
About
Martin Prosperity Institute
The Lloyd & Delphine Martin Prosperity Institute is the world's
leading think-tank on the role of sub-national factors - location, place and
city-regions - in global economic prosperity. It takes an integrated view of
prosperity, looking beyond economic measures to include the importance of
quality of place and the development of people's creative potential.
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Media Contact:
Ana-Maria Critchley
416-393-7212