The Hay Gaol is of State social significance arising from its use as a girls' institution. Although official records remain unavailable, it is believed that a significant proportion of girls sent to Hay were indigenous "stolen generation" children, who constituted many of NSW's most vulnerable of wards of state. Many survivors from this era have begun returning to the site from all over Australia as part of their healing. The Hay Gaol is also of local significance to the many Hay residents who were born there when it was a maternity hospital and to others who lived there when it was emergency flood housing. The Gaol is also of local significance for its use by the community as a museum and cultural facility. The site is used frequently by school groups as part of the Hay Museum Learning Program. As one of a network of five vibrant and collaboratively managed museums supported by the Hay Shire Council the Gaol and Hay's other museums underpin cultural tourism development in the town and as such are important to supporting and diversifying the local economy.