CARTERET COUNTY -- The $40 million megayacht, SeaFair, sailed into Portside Marina in Morehead City to get ready for the North Carolina Seafood Festival.

"When we first come into a town of course, everybody's in awe," Captain Mike Kilby said. "I mean, this thing comes in and blocks out the sun."

It's 228 feet long and plays an important role at the Seafood Festival.

"It's specific purpose is an art gallery," Kilby said. "It's a floating exhibition center."

And it's expected to draw business into town.

"It's going to bring a lot more people that wouldn't usually come before, in the past, just because it's just a beautiful boat and everybody's going to want to see it," said local business owner Konstantin Manousaridis.

Manousaridis just opened up Mythos Restaurant and Bar on the waterfront in March. He says the Seafood Festival will be bigger than any business he's had so far this year, especially after the slump in the aftermath of Hurricane Irene.

"It's day and night," Manousaridis said, "I mean, you never get a surge of crowd like that, you know, it's a great thing."

While gray skies and rain welcomed SeaFair, clear skies and a big crowd are expected for the festival this weekend.

"One-hundred thousand people or something, that's the numbers we've been doing lately," Manousaridis said.

The SeaFair can hold 600 of those people.

Their goal: "Kind of boost the economy here, hopefully, and add a little spirited element to the 25th anniversary," Kilby said.

The North Carolina Seafood Festival is the second largest festival in the state. Admission for the festival is free, but admission onto SeaFair is $10 per person, $5 for children under 10 years old and Priority Boarding tickets $15 for separate Sky deck access for the Saturday fireworks display – limited tickets available for $15.

For more information on the festival, visit http://www.ncseafoodfestival.org/

For more about SeaFair, visit http://www.expoships.com/