LEWISTON — Officials in the Twin Cities announced they have secured a top sponsor for this year’s Lewiston-Auburn Balloon Festival and are making progress toward raising $180,000 in private donations.

A news release Thursday announced Emerson Toyota, the Auburn car dealership, as the “front gate top sponsor,” which provides a $20,000 donation to the festival. Officials are also optimistic they will meet their $180,000 goal, having raised $49,000 so far.

Last week, the cities announced former Lewiston Mayor Mark Cayer and former Auburn Mayor Jason Levesque as co-chairs of the festival’s sponsorship committee, and have now quickly announced its major sponsor.

In the news release, Nick Elwell, general manager of Emerson Toyota, said when they heard the festival was at risk of being cancelled, “we knew we had to step in.”

“Supporting this event means more than keeping balloons in the air; it’s about lifting the spirits of our community and creating lasting memories for everyone,” he said. “We’re proud to help ensure this cherished festival will continue for its 30th year.”

Levesque said Emerson Toyota’s sponsorship “displays their significant contribution to our region’s economic and cultural future.”

The cities have teamed up to organize what has been dubbed the Lewiston-Auburn Balloon Festival after the Great Falls Balloon Festival board initially canceled this year’s event due to a lack of sponsorships, vendors and volunteers.

City officials on both sides of the Androscoggin River have pushed for a 2024 edition due to the significant tourism and economic impact. The three-day event is estimated to draw over 100,000 attendees annually with an estimated $2 million economic impact. The festival will take place Aug. 16-18 at Simard-Payne Memorial Park on Beech Street in Lewiston.

Organizers updated the City Council earlier this week, reiterating the excitement they’ve seen so far.

Nate Libby, assistant director of economic and community development, told the council the total budget for the festival is $225,000, which, if the fundraising goal is met, would allow the cities to “turn a very modest profit” to be put back into future festivals.

Libby said securing the major sponsor “gave us confidence to keep pushing.”

The cities have also submitted a grant application to the Maine Office of Tourism that could provide between $30,000 and $60,000 for marketing costs.

Some councilors questioned where funding would come from if the cities aren’t able to meet the fundraising goal.

“There’s some wiggle room in some items based on what we raise,” Libby said regarding the budget. “Our approach is to over-fundraise for this event — turn over every stone.”

Libby said since it’s the 30th year, organizers want it to feel familiar but also incorporate new activities and attractions.

Cathy McDonald, who organizes the annual Liberty Festival and has previously worked on the balloon fest, said they have secured all previous nonprofit organizations to return for the 2024 event.

She said she’s seen “new energy and excitement” heading into this year.

Asked about next year’s festival and whether there may be conflict between the cities and the Great Falls Balloon Festival, Libby said, “Having many people looking to run the event is a great problem to have.”

He also said the cities would be “happy to hand the reigns over.”

Following the Emerson Toyota announcement, Mayor Carl Sheline said Lewiston-Auburn “has always enjoyed a business community that focuses on our community and this situation is no different.”

“I’m proud that local businesses have stepped up to support the balloon festival and all of the smiles and goodwill generated by this signature event,” he said.