SQUAMISH (NEWS 1130) – The Squamish Valley Music Festival will not be back this year. Organizers have been vague about the reason behind the decision.

A statement on the festival’s website reads “We have made the extremely difficult decision to not proceed with the 2016 festival, due to take place in August. This decision was not made lightly and we sincerely apologize to all the people this decision affects: the fans, artists, industry partners, corporate partners, suppliers and all of our supporters within the community of Squamish.”

Organizers haven’t spelled out why the festival can’t work this year, but the mayor of Squamish speculates our dollar has a lot to do with it. Patricia Heintzman says she was told it was a business decision.

“There were multiple factors that went into the decision. My suspicion is the Canadian dollar played a big factor when you’re bringing in the amount of talent that they brought in and your costs jump 30 per cent I can imagine that wreaks havoc on a budget.”

Heintzman disappointed the festival can’t go on. She estimates it brought in about $14.8-million to her town’s local economy each year.

Twitter and Facebook accounts for the festival have been deleted.

The Squamish Valley Music Festival first took place in 2010. Its line-up last year included Drake, Sam Smith, and Mumford and Sons. About 115,000 people attended.

The following message has been posted to the event’s website:

The following is the full statement from the District of Squamish:

The District of Squamish is extremely disappointed to learn that the Squamish Valley Music Festival will not proceed in 2016. The Festival has had an incredibly positive influence on Squamish in so many ways, including the significant revenue and economic impact it has brought to the community, and the immense amount of promotional exposure Squamish has enjoyed throughout North America and internationally.

“It’s difficult to quantify the total impact of the Festival but we know there has been a massive injection of revenue, increased awareness and heightened profile for Squamish,” says District of Squamish Mayor Patricia Heintzman. “Squamish Fest has helped our town transition to a place that has been recognized on ‘best of’ lists in A-list publications. It has become part of the tapestry of our town; and has given our community a great sense of pride. It was also a fantastically fun weekend that many of our residents enjoyed immensely as they were caught up in the spirit of music, art and the spectacular. We have played host to the world, and it has been a great honour.”

The District has developed a high functioning and positive working relationship with the Festival team, and could not have asked for a better partner. “I’d especially like to recognize Paul Runnals, Executive Producer, for his passion, vision and appreciation for Squamish. He has been a truly excellent partner, and we hope to be able to work with Paul and his team again in the future,” continues the Mayor. “We know that this decision was not made lightly.”

The Squamish Valley Music Festival leaves an indelible legacy and has helped put Squamish on the map with its world class production – we are grateful.