Producers of 'Louder than Life' and 'Bourbon and Beyond' bringing more festivals to Louisville 

Festival officials posted the cancellation on Facebook on Monday night, saying "it is no longer possible to make the festival site safe in time for this weekend."

Last year's festivals brought more than $43 million into the local economy. 

Danny Wimmer Presents, which produces both the Hometown Rising and Bourbon & Beyond festivals, announced the cancellation of both events in separate news releases Wednesday afternoon.