Center for a New Economy (CNE)

Center for a New Economy (CNE)
Name	Center for a New Economy
Formation	1998
Founder	Noam Levey
Type	Nonprofit think tank
Headquarters	San Juan, Puerto Rico
Location	Puerto Rico
Leader title	President
Leader name	Miguel A. Soto-Class
Focus	Public policy, fiscal reform, innovation, energy

Center for a New Economy (CNE) is a nonprofit research and policy organization based in San Juan, Puerto Rico focused on fiscal reform, regulatory design, and development strategy. Founded in 1998, CNE engages with public officials, private sector actors, and civil society across Puerto Rico, the United States, and the Caribbean to promote market-oriented reforms, energy transition, and innovation policy. Its work intersects with issues addressed by regional institutions, international organizations, and advocacy groups.

History

CNE was established in 1998 amid debates about public finance and regulatory modernization affecting Puerto Rico. Early activities occurred alongside policy initiatives linked to the administrations of local governors such as Pedro Rosselló and Sila María Calderón, and during legislative episodes like deliberations over tax incentives and public corporations tied to the Puerto Rico Electric Power Authority. Over time CNE positioned itself within a network of organizations including the Brookings Institution, the American Enterprise Institute, and the Inter-American Development Bank that shaped discourse on fiscal adjustment and privatization in the Caribbean Basin. Its timeline intersects with economic crises and restructuring events such as the 2008 global financial crisis, the enactment of PROMESA (Puerto Rico Oversight, Management, and Economic Stability Act), and natural disasters including Hurricane Maria.

Mission and Activities

CNE states a mission to foster policy reforms that enhance competitiveness, fiscal sustainability, and innovation in Puerto Rico and the region. Activities include convening policy forums, producing analytical reports, advising executive offices and legislative committees, and engaging with multilateral organizations such as the World Bank, the International Monetary Fund, and the Organization of American States. CNE’s convenings have featured participants from academic institutions like Harvard University, Massachusetts Institute of Technology, University of Puerto Rico, as well as officials from the United States Department of the Treasury, the Federal Emergency Management Agency, and corporate actors such as AES Corporation and LUMA Energy-related stakeholders. The center also collaborates with philanthropic entities including the Ford Foundation and private foundations operating in the Caribbean Development Bank space.

Research Areas and Publications

CNE concentrates research on fiscal policy, public finance, energy policy, regulatory reform, and innovation ecosystems. Its publications comprise policy briefs, white papers, and technical memos addressing municipal bond markets, tax incentives like those connected to acts debated in the Puerto Rico Senate, energy sector restructuring tied to the Puerto Rico Electric Power Authority (PREPA), and strategies for resilience after events such as Hurricane Maria. CNE has produced work on public-private partnerships referencing comparators like Chile and Colombia, and analyses that cite international standards from entities such as the World Bank Group and the United Nations Development Programme. Its authors and contributors include scholars and practitioners with affiliations to institutions like Yale University, Columbia University, Stanford University, and think tanks including the Center for Strategic and International Studies.

Policy Influence and Advocacy

CNE has sought to influence policy debates through testimony before legislative bodies, advisory roles to governors’ offices, and contributions to oversight processes under PROMESA. Its advocacy has intersected with campaigns for utility reform, privatization, and tax code overhaul that engaged stakeholders ranging from the United States Congress to bondholders represented by firms such as Goldman Sachs and Citigroup. CNE’s recommendations often align with market-oriented reforms seen in policy agendas promoted by organizations like the Heritage Foundation and the Cato Institute, while it also participates in collaborative settings with regional actors including the Caribbean Community and the Puerto Rico Manufacturers Association.

Funding and Organization

CNE operates as a nonprofit governed by a board of directors that has included private sector leaders, academics, and former public officials. Funding sources reported by similar institutions include grants from foundations, contracts with international organizations, philanthropic donations, and paid consulting arrangements. The center has received support in contexts involving programmatic grants and project-based funding, analogous to funding patterns of organizations such as the Rockefeller Foundation and the Bill & Melinda Gates Foundation. Staff and fellows have backgrounds spanning legal practice, economics, energy policy, and public administration with ties to universities and law firms active in San Juan and Washington, D.C..

Criticism and Controversies

CNE has faced criticism from unions, community groups, and some academics for policy positions perceived as favoring privatization, deregulation, and creditor interests during fiscal restructuring. Critics have invoked comparisons to debates involving the Puerto Rico Oversight Board and contested actions by private operators in the energy sector such as LUMA Energy. Controversies have included disputes over transparency, the role of outside advisors during restructuring under PROMESA, and the political consequences of advocacy on tax incentive regimes similar to those debated during the administrations of Luis Fortuño and Ricardo Rosselló. Opponents have organized around coalitions involving labor organizations, civic associations, and academic critics from institutions such as the University of Puerto Rico Graduate School of Public Administration.

Category:Think tanks in Puerto Rico Category:Non-profit organizations based in Puerto Rico