As rumored, Richard Branson’s Virgin Produced production company has signed on to try to save Woodstock 50.

Festival organizer Michael Lang still hopes to hold the show the weekend of August 16th at the Vernon Downs race track in Vernon, New York. Open house meetings were held in Vernon Monday and Tuesday morning before a town board meeting Tuesday night.

Organizers say it would be a boon for the local economy, noting that Bonnaroo in Manchester, Tennessee pumps $56 million into the regional economy. A statement says, “Woodstock 50 would be no different. If permits are secured, Woodstock 50 could foresee hiring local residents to help with ticketing, security, logistical support, transportation, set up, break down and clean up.

Vernon Downs and American Racing CEO Jeff Gural says the festival could help keep the race track open, and its 300 jobs in the area. “These things generate a lot of revenue. To be honest, I’ve been losing money at Vernon Downs. The only reason I’ve kept it open is because I know how important it is to the town.”

If a miracle happens and the festival happens, among the artists scheduled to perform are Robert Plant, The Killers, Santana, Greta Van Fleet, Dead and Company, Imagine Dragons, David Crosby, Jay-Z, John Fogerty and many others. (Pollstar)