The Hot Air Balloon Association was formed in Creston, Iowa, through the efforts and leadership of Lowell Sharp in 1978. The first rally saw 22 balloonists in the skies. Since then, the number has increased to over 50 annually, making it the second largest balloon event in the State of Iowa.

Over 10,000 enjoy this annual event always held the 3rd weekend in September. In addition to the ballooning, the city is the site of day-long activities for the spectators.