TRED and Heartland partner to improve the Kronborg InnJuly 1, 2016
A local restaurant in Tyler is getting renovated with help from Tyler Regional Economic Development (TRED) and Heartland. The organizations have partnered to help finance a remodel of the Kronborg Inn, a local dining establishment.
“The Kronborg Inn is already a thriving business and the largest restaurant in town, but it is in need of some updates,” said TRED board member and Tyler City Administrator Robert Wolfington. “We hope these improvements will help increase the restaurant’s revenue by providing an improved dining experience for patrons. This project also has the opportunity to create new jobs for the area.”
The Kronborg Inn is owned and operated by a group of local investors. The building had not had any improvements in a number of years and the investors approached TRED for assistance with expenses related to the remodel. The group is planning over $85,000 in improvements, including e electrical and kitchen equipment upgrades as well as an expanded area to allow space for off-sale liquor.
Heartland recently awarded TRED a $5,000 economic development grant to help finance the project.
“Local dining options are crucial to rural communities for a number of reasons,” said Heartland Director of Economic Development Casey Crabtree. “People will drive several miles for a great dining experience. With a prime location along US Highway 14, the Kronborg Inn has the potential to draw visitors from the region as well as neighboring states, which also helps bring in customers to other local businesses.”
Upon completion, the owners plan to increase their staff and extend operating hours to include lunch, in addition to the current evening hours. Extended hours will require more workers to ensure quality service.
“Heartland is always happy to partner on projects that lead to growth in our customer communities and most importantly create jobs or save existing ones,” added Crabtree. “A healthy local economy is interdependent. Quality jobs are needed to retain residents, residents want local choices for shopping and dining, and all local purchases generate tax revenue for the city. The success of the restaurant is one important piece of the economic puzzle.”
TRED was created to promote and maintain economic growth by administering low interest loans to new and existing businesses looking to expand in Tyler. TRED also facilitates access to state and local contacts and incentives and offers and assists businesses with tax increment financing, customized research and information services, and site selection. TRED is governed by a board of directors made up of city officials and residents.
Heartland provides economic development grants to customers to help fund projects that promote economic prosperity, support new business opportunities or improve the social and economic well-being of local residents. For more information, visit www.hcpd.com/economic-development.
Featured photo, from left to right: Heartland Director of Economic Development Casey Crabtree, TRED Board Member Gary Manson, Kronborg Inn Owner Robert Fritz and Manager Stacy Weets.