Wodonga mayor Anna Speedie and her Albury counterpart Kevin Mack revealed plans for the Upstream festival, which will feature wall art, music, theatrical experiences and interactive displays, on Thursday.

The 2020 event will run from March 6 to 9, with both councils contributing $150,000 in the first year.

The festival will feature wall art, but Cr Speedie said, it would add to, not detract, from Benalla's Wall to Wall festival.

She said people would be inspired to travel from Benalla to Albury-Wodonga and vice versa to see the various works.

"I actually think it will add to it," she said.

"And it's different, it's not the same, there's going to be real interactive art spaces and events to get engaged in and lots of thing to be a part of we hope that they'll continue up that trail just a little bit further and come see what Albury-Wodonga have to offer."

Cr Mack said the investment in the festival was great value.

IN OTHER NEWS:

"We'd spend $100,000 or more to put on a major sporting event for one day and it wouldn't bring in $2.5 million," he said.

"If you look at Benalla's Wall to Wall festival that's bringing in enormous value to that community and funds to that community which otherwise would have been bereft of that opportunity. I think you need to leverage off what they're doing and do it on a bigger and larger stage and diversify what you're offering."

Cr Speedie said the festival would take inspiration from other major artistic and cultural festivals including Tasmania's Dark Mofo and Benalla's Wall to Wall.

"I think you take their learnings you see what it's done for Tasmania it's absolutely put it on the international map," she said of Dark Mofo.

"It generates a new economy and it's also about locals being able to enjoy that."

Cr Mack said the festival had been on the cards for the past three years.

"The feedback we get from our communities is they want annual festivals that actually bring people in to the community but also the community can celebrate," he said.

"I think for many years we've underestimated the artists value of Albury-Wodonga and I think we've got some very solid foundations to build on.

"We aim to grow this festival year by year."

Cr Mack said the festival would feature nationally and internationally acclaimed artists, but also be a platform for Border-based talent.

"The festival will be family-friendly, have lots of free activities and be accessible and so will be about experiences that people can share across generations," he said.

The name Upstream refers to the Murray River, 'the meeting place of the two cities'.

Events will be held across Noreuil Park, Belvoir Park, Gateway Island, Junction Square and The Cube Wodonga.

Cr Speedie said the combined arts festival would stimulate the economy as well as the Border arts scene.

Receive our daily newsletter straight to your inbox each morning from The Border Mail. Sign up here