Well for starters, you need at least one high end venue (State Theater), and you need owners of said venue who actually give a crap and are willing and financially able to commit to it.
This means taking a risk. It means carving out a salaried / benefits position for a legit promoter and booking agent to bring quality acts to the venue. And not just someone who graduated from MSU with a Communications degree and loves the Dawgs and Starkville….talking about legit experienced person who went to school for a degree in the music business, and/or has relevant experience and connections from a big music town like Austin, Nashville, etc.
It means front end capital to get some big performers in early to get the ball rolling. Perhaps more capital to renovate the building and improve its infrastructure.
Also means creativity. Bread and butter should be local / regional bands….but bigger acts are welcome. Go after every kind of act / genre. Rock, Americana, Country, Indie, DJ’s, hip-hop and R&B. Book stuff like dueling piano’s, good cover bands like Blackjacket Symphony and others. And so forth.
Most of all, owners have to take the approach of make it succeed as a live music mecca, or die trying. If its just another “yeah we’ll book some bands and stuff but if that’s too hard its OK we’ll just do club stuff on the off nights….IDK”. That śhit will fail just like it has 10 times before.