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NJEDA Funds Relocation in Cherry Hill

CHERRY HILL, NJ-With nearly $1.3 million in financing from NJEDA, a rehabilitation services company was able to move to larger offices.

By Maria Wood | Updated on June 11, 2009

CHERRY HILL, NJ-The New Jersey Economic Development Authority has aided an in-home rehabilitation services company in its move to larger headquarters. Fox Rehabilitation Services PC’s relocation from 9,000 square feet to 65,000 square feet was made possible with a $6.3-million loan from TD Bank that includes a $1.3-million participation from NJEDA under its Statewide Loan Pool for Business program.

“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.

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