The Juno Awards are coming to Winnipeg in 2014.

A formal announcement with Manitoba Premier Greg Selinger and Winnipeg Mayor Sam Katz is expected to take place on Thursday.

Chuck Davidson, vice-president of the Winnipeg Chamber of Commerce, said the Junos' return to the city is great news.

When Winnipeg last hosted the Canadian music awards ceremony in 2005, it added $5.5 million in economic activity to the Manitoba capital, Davidson said.

"What people have to remember is that the Junos isn't just one event. It's a week … full of events, so there's going to be an impact in terms of hotel stays, in restaurants and hospitality. So this is a big deal," he told CBC News on Wednesday.

"Whether they have concerts, whether they have hockey games with celebrities, whether there's workshops ... there's going to be an impact."

Davidson said Winnipeg could be on a roll in terms of major events, as the Grey Cup final and an NHL all-star game could be held in the city sometime in the next few years.