- Associated Press - Thursday, July 24, 2014

ASHEVILLE, N.C. (AP) - Organizers say Moogfest will return to Asheville in 2016, becoming an event that occurs every two years.

The festival brings technologists, entrepreneurs and music fans to Asheville.

Moog Music Inc. President Mike Adams says conducting the event every two years will make it more special.

The company invested $3 million in this year’s event, which ended up with a loss of $1.5 million.

“We had to look at the financial health of the company. We couldn’t put the level of investment into it each and every year,” Adams said.

Adams says corporate sponsorship will help make the festival financially sustainable every two years.

Moog Music makes electronic music instruments.

The April event included more than 100 musical performances, 105 speakers, panels, multimedia installations and public art exhibits and expositions. It included almost 20 locations in downtown Asheville.

Moog brand director Emmy Parker said switching to every other year will allow company employees to take a break from their investment in time and energy.

“Even if we had $10 million, we would opt for every two years,” Parker said. “Ten months is not enough time to secure the level of talent that we need.”

Organizers hoped the revamped arts and technology festival was a way to bring more attention to Asheville as a place to do high tech business.

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