South Carolina Public Library Economic Impact Study - Illinois

subscriptions held results in: (sum of all newspaper and magazinesubscriptions) * $200.00• Sum total for all libraries: $4,142,000• Library System Minimum: $11,200• Library System Maximum: $596,400• Library System Average: $101,024Measure 4: Value of reference questions answeredPurpose: To estimate the economic value of information provided through thereference services (in-person, telephone, and e-mail) provided by all publiclibraries in the state.Method: While the research literature in this area is limited, a few studies havebeen conducted. Morris, et. al. (2002) based their estimates on the average timea user spent in a reference transaction (about 30 minutes) and multiplied it timesan average community hourly salary.Calculating formula: Using this approach, with a South Carolina 2002 medianhourly wage of $12.00, a value of $6.00 per reference transaction was used forcalculations. This resulted in the formula: sum of reference transaction * $6.00. 2• Sum total for all libraries: $26,269,818• Library System Minimum: $7,200• Library System Maximum: $7,516,836• Library System Average: $640,728Measure 5: Measuring the value of in-library use of materials.Purpose: To estimate the economic value of information provided to users whovisit and use materials inside the state’s public libraries. Morris, et. al. (2001a)base their estimate for this value on the average time spent in the library by users(about 30 minutes) and multiply it times a community average salary cost.Calculating formula: The Study Team used an even more conservative time andvalue estimate figure of $2.43 for each visitor. This resulted in the formula: thesum of in-library use of materials in all public libraries * $2.43.• Sum total for all libraries: $10,351,105• Library System Minimum: 0 (only 38 libraries reporting)2 The New York State Library study (2004) used a $40.00 value for each reference question (adult andjuvenile) for each reference question.South Carolina Public Library Economic Impact Study 59