"This investment by Fox Rehabilitation is good economic news for the South Jersey region," says Gov. Jon S. Corzine in a statement. "Community growth is being facilitated with this development while existing jobs are being maintained and new job opportunities are being created for residents."

Fox expects to keep 400 jobs and add another 240 new positions over the next two years. By August, the firm, which provides in-home physical, occupational and speech therapy, plans to move from its present location at North Kings Highway to a 90,000-square-foot building at 7 Carnegie Pl. here. Fox will occupy 65,000 square feet and lease the remaining space to an unaffiliated tenant.

The EDA portion of the loan carries a fixed interest rate of 3% for the first five years of a 10-year term. Since the early 1990s, NJEDA has provided more than $170 million in loan participations that has assisted over 700 projects, which in turn have created roughly 9,500 new jobs.