That's according to the Vice Chair of Mitchelstown Business Association Claudia Matassa who says the event was a huge draw and provided a massive boost to the economy every August Bank Holiday Weekend.
Over 15,000 thousand people attended the popular festival every year, generating upwards of €2 million for the town.
Organisers say the decision to leave the site at Deer Farm was made with a heavy heart but that they were left with no other option in the end.
They also stated that they are planning for the future and will refund anyone who bought a ticket for next years festival by Christmas.
Speaking to RedFM News, Claudia Matassa from Mitchelstown Business Association says the festival put Mitchelstown on the map:
