Upstream aims to bring 20,000 people and $2.5 million to the Border over four-days and will run from March 6 to 9, 2020, with both councils contributing $150,000 in the first year.

The festival will feature wall art and will add to, not detract from Benalla's Wall to Wall festival, Anna Speedie said.

Wall to Wall founder Shaun Hossack said he welcomes all regional art and cultural festivals.

"I think the benefit of Wall to Wall has been fantastic and going into its sixth year, for me, it's an interesting time for the festival, will it grow? Will it move on to another place with more available canvases?," he said.

"It's going to be interesting to see what happens next."

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When asked if the Wall to Wall festival could possibly expand to the Border in the future, Mr Hossack was noncommittal.

"I can't say what the future holds for Wall to Wall all I can say is Albury Wodonga has really incredible walls, enormous canvasses that are good enough to entice artists all around the globe," he said.

Mr Hossack said more and more regional towns were embracing large scale art, from walls to silos, and ideally it would be great if they all banded together so people could travel Australia through one giant silo and street art trail.

He said it was natural people adopted and adapted techniques that work.

"I'm looking forward to watching the new festival grow and evolve in Albury-Wodonga," he said.

"I've seen the power of street art transform regional towns and cities across Australia.

"Once people cotton on to this idea that large scale artwork could be used to rejuvenate regional towns and bring economic value and more tourism, it's only the natural progression others do the same."

Albury mayor Kevin Mack said the Upstream festival, which will feature wall art, music, theatrical experiences and interactive displays, was a great investment.

"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 major artistic and cultural festivals including Tasmania's annual Dark Mofo event.

"You see what it's done for Tasmania it's absolutely put it on the international map," she said.

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

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