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Bertelsmann opens doors of foreign incubator.

The International Business Incubator New York City (IBI) at the Bertglsmann Building, exclusively serving foreign firms, is now accepting tenants.

Bertelsmann Inc. developed the facility in cooperation with New York City.

Only foreign companies with no New York presence will qualify for residency in IBI, located on two 25,000 square-foot floors of the new Bertelsmann headquarters at 1540 Broadway.

Bertelsmann, the German media company that 10 years ago had a limited presence in New York City, now occupies more than 700,000 square feet in the building it owns at 1540 Broadway.

The incubator will offer a Commercial Concierge providing free consulting services to each tenant, including government relations, business development, introductions to service providers and even assistance with personal matters such as finding a place to live or a school for children.

Parter International, Inc., an international development firm that is IBI's Commercial Concierge, has created a "First Presence Program' that fastforwards assimilation by months or years, according to President Alan S. Parter.
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Title Annotation:foreign companies without New York location qualify for tenancy in International Business Incubator New York City at Bertelsmann Building at 1540 Broadway, New York, New York
Publication:Real Estate Weekly
Date:Jun 9, 1993
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