Eric Dranoff, Esq., Chairman of the Rockland County Industrial Development Agency (IDA) announced that Steven Porath will lead the IDA’s efforts as its new Executive Director. Steven Porath was appointed to the position by the IDA’s Board of Directors effective March 1. Formerly the Director of Economic Development for Rockland Economic Development Corporation (REDC), Porath replaces Ronald Hicks, who was recently appointed as Deputy Commissioner for Strategic Planning and Economic Development in Dutchess County.
The Rockland IDA provides financial incentives to retain, expand and attract business in Rockland County. Incentives include state and local sales tax exemption, mortgage recording tax exemption, tax exempt bond financing and a real property tax abatement program.
IDA Members, who serve as volunteers, include: Eric Dranoff, Esq., Chair; Howard Hellman, Secretary; Timothy Riley, Treasurer; and Catherine Nowicki. The IDA does not receive any public funding and operates solely from the fees it generates.
Chairman Dranoff said, “This is a vital role when it comes to developing a variety of strategies, initiatives and alliances that promote business growth in Rockland County. Steve’s proven track record and successful background in economic development is a welcome and invaluable asset to the IDA.”
Rockland County Executive, C. Scott Vanderhoef added, “Rockland County’s IDA deserves praise for ensuring its financial incentives facilitate economic development in Rockland. With Mr. Porath as its new executive director, the IDA will continue its commitment to react quickly and effectively to ensure that businesses know that the IDA can offer tax benefits associated to a company’s decision to relocate or expand in Rockland County.”
Since 2003, Porath was responsible for creating and retaining jobs at the REDC, as well as developing, implementing and overseeing new and existing programs that promote business growth in the county. His accomplishments also include establishing and administering Rockland County’s Empire Zone Program from 2006-2010.
Currently residing in Stony Point with his wife, Sheila, and family, Porath was born and raised in New Windsor and graduated from Marist College in Poughkeepsie, New York.