Longford Athletics Club is hoping that it will be able to develop a new indoor centre within two years.
The community indoor facility will be developed in two phases, phase one will include a 80-100m tartan strip, long jump/triple jump pit and run-up, high jump space and a shot put facility.
Phase 2 will involve developing a 400-metre track.
€200,000 in funding has been approved through LEADER and the club is hoping to raise €100,000 through a raffle which was launched last night.
Officers are working with Longford County Council to locate a suitable site for the centre before progressing to planning.
Chairman of the club, Paddy McPhillips says while they are developing it, it will be a community facility open to all.