Businesses are in the business of staying in business. Sometimes it is challenging to do great things for the community and still maintain a healthy bottom line. However, there are some tax credits and grants which can help your business do both. One positive outcome of current economic events is a visible shift away from self-absorption. The mindset of “what is in it for me” seems to be melding into “what is in it for the community.” It is heartening to see increased dialogue and legislation which encourages and enables contributions to the greater good.
Most businesses are approached for contributions to worthy causes on a regular basis. Yet, financial constraints may not allow businesses to contribute as they would wish. Fortunately, some tax credits help businesses fulfill their desire to be great citizens while remaining solvent.
The following information identifies a variety of tax credits, breaks, and grants which are aimed at helping businesses, individuals, municipalities, and not-for-profits make positive and lasting contributions to their communities.
TAX BREAKS FOR LAND CONSERVATION
Conservation Tax Center explains the provisions of conservation tax credits for landowners. 
Pertinent provisions in the 2008 Farm Bill are explained by the Blue Mountain Land Trust.
The Daily Chronicle provides an example of a Conservation Easement Project in action in DeKalb County.
Private Landowner Network discusses the Conservation Innovation Grant Program.
Conservation Innovation Grant (CIG) information is provided by USDA. CIG aims to assist agriculture interests while using innovative conservation practices.
The Napa Valley Register discusses benefits of the “open spaces” bill.
TAX CREDITS FOR HISTORICAL PRESERVATION
Landmark Illinois provides information and contacts concerning tax credits and grants available for historic preservation in Illinois.
The Illinois General Assembly site provides status updates for HB 469 on Historical Preservation and Rehabilitation Tax Credits.
The Illinois General Assembly site provides status updates for HB 586 Historical Rehabilitation Tax Act.
The city of Peoria provides an example of Peoria’s use of the Historical Preservation Tax Credit.
ENERGY TAX CREDITS
U.S. Department of Energy explains Energy Tax Credits and Breaks.
U.S. Department of Energy describes Tax Credits and Breaks specifically for businesses, municipalities and utilities.
The Bottom Line lists some tax breaks for going green.
TAX BREAKS FOR HIRING DISADVANTAGED PERSONS
Gaebler.com for Entrepreneurs discusses the W.I.N. Program
State of Illinois Business Portal explains Employer assistance Programs offering tax credits for hiring and retraining disadvantaged workers.
Illinois workNet provides links to information on Work Opportunity Tax Credits and tax credits for hiring ex-felons and veterans.
Planning for Tomorrow’s Needs: What Businesses Should Know - NEW on Illinois workNet
In addition to enabling contributions to the greater good, the current economic times have shown businesses the importance of investing in their workforce. The following highlights the current shifts in the search for talent, the value of others believing in your vision, and the opportunity to train our future.
Hiring Older Workers:
In light of the declining proportion of younger workers and projected shortages, many employers will need to turn to mature, experienced workers in order to gain and maintain a competitive advantage. Click here to read more.
The Value of Volunteer Time:
Volunteers represent the equivalent of 3-5% of the economically active population in many countries; make a $400 billion contribution to the global economy; and if volunteers were a nation, they would be the 9th most populous country in the world. Click here to read more.
Employing Minors:
There are many opportunities for businesses to employ and help prepare young workers to be competitive in the 21st Century workplace. Every year, millions of teens work in part-time or summer jobs that provide great opportunities for learning important life skills and acquiring hands-on experience. Click here to read more.