If the plans are approved, the town is set to benefit from a multi-million pound transformation.
The proposals will be discussed next week by Councillors and will focus on using the town's heritage assets to maximise its tourist potential. Paisley has a strong heritage, with more than 100 listed buildings, rare books and paintings available.
It is thought the proposed developments could increase Paisley's tourist economy performance by £45m a year as well as create 800 new jobs. If this is delivered, the local authority has said it would be in a position to bid for UK City of Culture status in 2021.
The Paisley Town Centre Heritage Strategy was compiled after the council commissioned a team of experts to look at how the town's rich history could be used to drive its long-term regeneration.
Key recommendations from the proposals include:
• A multi-million-pound revamp of Paisley Museum to create a nationally-recognised Museum of Textiles, Fashion, Costume and Design
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• A study into possible new theatre space in the town, as well as further development at key tourist sites including Paisley Town Hall and the Coats Observatory
• The creation of a Paisley Fashion and Design Centre, amid other improvements to the town centre to improve the visitor experience
• Work to investigate whether Paisley's industrial legacy could be recognised as a UNESCO World Heritage Site.
Initial estimates put the scale of investment suggested by the report at £90m.
Renfrewshire Council Leader Mark Macmillan said: "This report is the culmination of months of work to determine how Paisley could best use its rich heritage to build a better future for the area.
"It was written after extensive consultation with a wide range of groups, locally and elsewhere.
"It shows that Paisley offers a tremendous range of valuable and unique cultural attractions and suggests how – with the right investment – we could use that to transform our future.
"We already have lots of good work going on – such as last year's £2.4m revamp of Paisley Town Hall, the £2m secured to transform the Russell Institute and development starting on the Arnotts site in the town centre, as well the continued success of our growing events portfolio – but we don't want to stop there."
He continued: "These plans are a bold statement of where we want to be, and we shouldn't be afraid to think big.
"I want the area's future to be one where it reaches its full potential and we should explore all options to make that happen.
"Of course, the benefits would not be restricted to Paisley – the study's findings show that investment in Paisley's existing assets would bring a significant economic boost to all of Renfrewshire."
The Board will meet to discuss the plans on Wednesday 29 January.
(JP/IT)
