The organisers of the Sligo Live festival have appealed to Sligo Borough Council for an increase in financial aid in effort to build on the success of the event.
Damien Devaney delivered a presentation at last night's council meeting where he informed members the music festival is worth around 2.6 million euro to the local economy annually - with the aim of doubling this in the future.
Councillors were told the annual event which takes place on the October bank holiday weekend, has been hit by funding cuts from the majority of public bodies and that the events finances were on a knife edge.
Mr Devaney says the slightest increase in financial aid could show a massive return in investment for the local area.