Trinity Business School has also achieved EQUIS re-accreditation.
Calls are being made to turn a midlands swimming pool into a museum.
The existing facility in Mullingar is said to be dilapidated due to age, and can no longer meet the needs of the town.
However, plans for a new Regional Sports Complex in Robinstown are progressing, which could see those demands met.
Fianna Fáil Councillor Bill Colentine proposed the idea, once the new swimming pool is ready and functional.
The motion received support from fellow councillors, who agreed Westmeath has history in music, sport and military that deserves a space to be celebrated.
It was also the consensus that, when compared to other towns across the country, Westmeath is lacking in an area dedicated to its history and culture.
However, other proposals for the site, including a boxing club, or youth centre were also highlighted.
Official proposals for what to do with the premises will be considered at a later time.
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The Dean of Trinity Business School says he's proud of their achievements and excited for the future.
The school has achieved full EQUIS re-accreditation for another five years from the European Foundation for Management Development, which confirms it's position as one of the top business schools in the world.
Professor Laurent Muzellec says it allows them the space to set up more, positive goals for the future.
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