Organizers for the 2012 East Coast Music Awards are predicting the Moncton area will receive a significant economic jolt when it hosts the annual festival in two weeks.
The East Coast Music Awards, which will be held in Moncton from April 11 to 15, will showcase the city and bring in substantial economic spinoffs, according to organizers.
Adam Gould, the president of the local organizing committee, said the music event is more than just good music and networking.
Gould said the awards will help local businesses by stimulating the local economy.
He said people will be visiting the city and spending money in hotels, bars, restaurants and "pretty much anywhere that money can be spent."
"It's just really great for the industry and also for local business," he said.
It is expected that roughly 6,000 people will come to Moncton during the ECMAs.
A study funded by the Atlantic Canada Opportunities Agency on the economic benefits of last year's event in Charlottetown showed $2.5 million in direct benefits.
Nancy Whipp, the chief executive officer of the Greater Moncton Chamber of Commerce, said Moncton expects to surpass that figure for its economic benefits.
"They expect indirect impact economic impact of over $6 million so we're looking at somewhere between $8 million to $9 million of economic impact with this activity happening in the Moncton area," Whipp said.
Whipp said many of the delegates often come back to visit the city later, generating even more tourism dollars for Moncton.