It happened in the 200 block of Cedar Lane in Florence.
Action News has learned the victim is a 63-year-old contractor who was doing work on a cellular tower that is affixed to the water tower, some 80 to 100 feet up in the air.
He was up there with a coworker when he started having chest pains and called for help, officials said.
"The workers have to climb up there, get up there on the platform and do their work. That's when he had a medical emergency," said Fire District Administrator Robert Tharp.
The Burlington County Technical Rescue team was activated and went to work. Using ropes and pulleys, they were able to reach the man and lower him down on a special stretcher.
Chopper 6 was overhead to find a number of rescuers on the scene.
Chopper 6 video of water tower rescue in Florence Twp., New Jersey
"There's not much room in there because there is a center pillar that comes down. And with a ladder and everything, it's difficult," Tharp said.
He was brought out and taken to a waiting ambulance shortly before 2 p.m.
Despite the challenges, the rescue took just 51 minutes.
"Because of their knowledge, skill and ability, and their technical capabilities, it makes it easier and a successful outcome as it was today," said Tharp.
The worker who was rescued was alert and talking. He is expected to be okay.