The Sundance Film Festival announced Thursday that its new home will be Boulder, Colorado, starting in 2027, after spending 40 years in Park City, Utah.

After a yearlong search, the Sundance Film Festival announced Thursday that its new home will be Boulder, Colorado, keeping Sundance in the mountains but moving it out of Park City, the Utah ski town that had for decades provided the premiere independent film gathering its picturesque snowy backdrop.

Joana Vicente is stepping down as the CEO of the Sundance Institute, the nonprofit behind the annual Sundance Film Festival, after two and a half years.