Indie Memphis director at Greater Memphis Chamber's Breakfast Forum

Jambor said Memphis can leverage its brand and grow into a cultural force if enough sponsors see the real economic benefit.

"So we find ourselves at a tipping point," he said. "Do we settle back to where we were for so many years before? Or do we seize the opportunity to use this momentum to push beyond national accolades and magazine rankings to build for Memphis a festival on equal footing with those in Nashville, Atlanta and Birmingham – one that can have actual, long-lasting economic impact?

"I think the answer is obvious, and the time is now."

Click hereMemphis Daily News.