Credit reporting and financial technology company Equifax plans to expand in Midtown Atlanta where it will add or relocate 650 jobs.

Mayor Kasim Reed’s office made the announcement Thursday morning saying the expansion at One Atlantic Center near the Woodruff Arts Center will amount to a $17 million investment.

The move will involve 150 net new positions and the rest will be relocated to the tower from offices in Alpharetta and Sandy Springs, a spokeswoman said.

“After considering several locations, we decided it was in the best interest of the company, our Atlanta-based employees, and the community to expand in Atlanta and further strengthen our roots that date back 117 years, and position for a great future that includes a growth trajectory of 600-700 jobs over the next several years,” Equifax Chief Global Operations Officer Andy Bodea said in a news release. “We naturally gravitated to midtown with its terrific access to a prominent engineering school and a growing reputation for innovation and technology hubs that are a magnet for great talent.”