A feasibility study carried out on Sligo Gaol, which closed in 1956, finds it could attract upwards of 55,000 visitors annually.
Ciaran McHugh of Friends of Sligo Gaol says it could be tourism game changer for the region.
The study was carried out by CHL consultants that have been involved with the Titanic Centre in Belfast and Spike Island Prison in Cork.
Speaking to OceanFM News, Ciaran says the knock on effect for the local economy could be huge.
