The Paisley Town Centre Asset Strategy contains proposals which could increase the area's tourist economy by £45m a year and create 800 jobs.
Earlier this week, Councillors on the Economy and Jobs Board gave the go ahead for a series of detailed business cases to be prepared, which would outline how the plans can be implemented.
The report mentions Paisley's heritage offerings, which includes more than 100 listed buildings, rare books and paintings, as being of "international interest and significance".
The recommendations in the strategy 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, and 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 look of the town centre
• Work to investigate whether Paisley's industrial legacy could be recognised as having UNESCO World Heritage Status.
Council Leader, Councillor Mark Macmillan, said: "If these forward-thinking and exciting ideas are carried through, it would result in a total transformation of the town's tourist potential.
"Today is just the first step, but it may be the start of something great, and the first step towards a better future for all of Renfrewshire.
"These plans may be aiming high but we have every reason to be talking the area up – the report makes clear just how much Paisley has to offer.
"I want the area to be all it can be and to fulfil its potential. What we have agreed today is a clear vision of how – with the right investment – we can do just that."
He continued: "We are already carrying out a lot of good work in the area – improvements to Paisley Town Hall, funding secured to preserve the Russell Institute, development under way on the former Arnotts site. But the plans agreed today would see us take that work to the next level."
(JP/CD)
