Study shows libraries add $30 million in value to Philadelphia

A study released by the University of Pennsylvania’s Fels Institute of Government finds the Free Library of Philadelphia created more than $30 million in economic value for the city in 2010.

As noted by Philadelphia Weekly, the report breaks down the positive effects the libraries have on the city’s economy, including elevated home values, employment resources and literacy assistance.

One fraction of the reports says the increased home prices within a quarter-mile radius of libraries created an addition $18.5 million in property taxes for the city and school district — the same amount that could be lost if all libraries were shut down, the study finds.