(Reuters) - New Orleans will host the National Basketball Association's (NBA) 2014 All-Star Game, the league said on Monday, which will mark the second time in six years the city will enjoy the economic boost the event provides.

The mid-season event will be played at the home of the NBA's New Orleans Hornets on February 16 pending the completion of arena and hotel agreements, the league said in a statement.

"There is no better place to celebrate and showcase the NBA than in New Orleans, a city with a rich tradition of hosting major events that is second-to-none," NBA Commissioner David Stern said in a statement.

The Sunday All-Star Game caps a busy week of festivities that includes a Friday game between the NBA's top rookies and second-year players and a Saturday skills competition featuring slam dunk and three-point shooting contests.

Orlando hosted All-Star festivities for the current season and the NBA previously announced that the 2013 edition will be in Houston, Texas.

New Orleans, renowned for the music that pours out of its Bourbon Street nightclubs, has also hosted nine Super Bowls and will be the site of the National Football League's (NFL) title game a 10th time in 2013.

Tom Benson, the owner of the NFL's New Orleans Saints and who recently agreed to purchase the Hornets, was thrilled to be hosting an event that will bring millions of dollars to a city still recovering from the ravaging effects of Hurricane Katrina.

"In February 2013, we will host the Super Bowl. In February 2014, we will host the NBA All-Star Game," Benson said in a statement. "The city of New Orleans is the place to be. Hundreds and hundreds of millions of dollars in economic impact will be generated for our region."

(Reporting by Larry Fine in New York; Editing by Frank Pingue)