Homegrown Investments: Catalyzing Opportunity and Community Benefit Through Durham Next’s Community Investment Program

Bringing more visitors to Durham is integral to our mission to make Durham the best place to live, work and visit.  

With the launch of our pilot Community Investment Program, we’re doing just that by investing in the festivals, events and initiatives that attract visitors to Durham and deliver meaningful benefits and experiences to its residents.  

Visitors Aren’t Just Important — They’re Critical 

When visitors come to Durham, they purchase meals, souvenirs and experiences from local businesses in the community, creating ripples in our local economy, otherwise known as economic impact. 

These visitors contribute more than a billion dollars to Durham’s economy each year, which directly supports the small businesses that give our destination character, the workers who make a living here and local government budgets that fund resources like public education, safety and local infrastructure needs. 

These 13 million visitors help carry a tax burden that Durham County’s 347,000 residents would otherwise shoulder alone. The role they play in maintaining the vibrancy and economic vitality of our community is not just important — it’s critical.  

That’s why our work at Durham Next focuses heavily on maintaining Durham as a destination that visitors want to experience. This work helps attract resources into the community that serve the residents who call it home. 

As a part of that work, we launched the Community Investment Program, which consists of two funds: Accelerate: A Festival Collective (Accelerate) and the Durham Next Impact Fund (IF). 

Accelerate: A Festival Collective (Accelerate) 

Festivals aren’t just fun outings. They are a fusion of commerce, culture and civic pride that also act as powerful economic engines for communities around the country.  

In 2024, eight of Durham’s festivals that completed an economic impact study drove $8.8M in revenue for our community. This number is not insignificant, but when we look back at the pre-pandemic impact of festivals in Durham, we can see that two city-wide festivals drew in almost as many dollars as that full 2024 lineup.  

Based on research completed by the Durham Next project team, we know that Durham has the potential not only to restore the level of impact local festivals once had in the community but also to reimagine the destination in ways that help cultivate these events and sustain their impact moving forward.   

Across the U.S., mid-sized communities are hosting local festivals like PVDFest in Providence, which generates $3M each year, and the three-day Folk Festival in Richmond, which generates $37.5M annually. 

Accelerate is a multi-year, capacity-building program designed in response to these insights to strengthen Durham’s festival ecosystem by supporting a small group of high-potential, homegrown festivals.  

Think of a beloved, established Durham music or cultural festival that has strong community roots and a loyal local following but hasn’t yet had the organizational infrastructure or financial runway to expand its regional draw, upgrade its production quality or develop a long-term business plan. Accelerate is designed for exactly that kind of organization: events with a proven track record and a clear vision for growth. 

In this pilot year, three to five festivals will be selected to receive financial investments of up to $100,000 per year over three years, along with hands-on wraparound support, including: 

• Business and growth planning 

• Marketing and audience development strategy 

• Financial management assistance 

• Sponsorship development support 

• Access to a dedicated festival or business coach 

• And help with navigating City and County processes like permitting, transportation and venue coordination

Participating festivals also become part of a peer community that meets regularly over the investment period for shared learning, idea exchange and mutual support. Producers chosen to join the Accelerate Collective will not compete for the City’s Festivals & Special Events Funding, allowing for more widespread use of available local resources.  

The goal is to build not just stronger individual festivals, but a more connected, resilient festival ecosystem that continues to fuel economic opportunity for all of Durham. 

Durham Next Impact Fund (IF) 

Festivals aren’t the only activations that attract visitors to Durham.  

While Accelerate is designed for deep, long-term partnerships with a small number of festivals, the Durham Next Impact Fund (IF) takes a broader approach — investing in a wider range of events, activations and community-based projects that attract visitors and benefit residents. 

The Impact Fund provides matching investments expected to range from $10,000 to $25,000 to eligible Durham-based nonprofits, locally owned businesses and local government entities leading projects that align with Durham Next’s mission and demonstrate clear potential to draw visitors from outside the county to generate meaningful economic impact. 

The criteria for eligible initiatives are intentionally flexible to allow room for creative and innovative ideas that meet the goal outlined above. Think: an existing music event with curated food and drink experiences, a food truck event that expands to include appearances by renowned chefs or even an outdoor adventure expo showcasing the county’s outdoor recreational opportunities. 

The 2026 Impact Fund application cycle is purposely timed to coincide with the City’s Festivals & Special Events cycle, allowing applicants to apply for both opportunities. The goal of this program is to strategically support events and activations that enhance visitor and resident experiences, drive measurable economic impact in the community and contribute to long-term viability in Durham. 

Which Investment Opportunity is Right for Me? 

Both funds advance the same mission, but they're designed for different situations. Here's a quick checklist to assess which might be the right fit for you. 

Accelerate is likely the better fit if: 

• You produce a festival with a strong community identity, have a vision for multi-year growth and a track record of success.  

• You're ready to engage in a long-term partnership and collective learning process. 

• You want, not just funding, but hands-on organizational support to build sustainable capacity. 

• You can commit to the program's participation requirements over three to five years. 

The Impact Fund is likely the better fit if: 

• You have a specific event, activation or project ready to launch or expand in the near term. 

• You represent a nonprofit, locally owned business or local government entity with matching funds in place. 

• You're looking for one-time investment support rather than a multi-year partnership program. 

• Your project is new or represents a meaningful expansion of something existing. 

Applications for the 2026 cycles of Accelerate and the Impact Fund will be available through Monday, June 15, 2026, at 12:00 p.m. Applications will be reviewed by the Community Investment Review team, which may include representatives from Durham Next and Discover Durham staff, the Durham Next Community Advisory Council and other community partners, with awardees being notified by midsummer. 

Durham's festivals and events don't just fill calendars. They generate the economic opportunity that makes Durham a community where locals thrive. The Community Investment Program is Durham Next's commitment to growing that opportunity, together. 

Learn more about each program at durhamnext.org/community-investment-program/.