Finance behemoth Equifax has announced it will expand its operations by $17 million, which will also facilitate creating 650 jobs in Atlanta’s Midtown region.
The city of Atlanta stated that Equifax will consolidate from it’s Sandy Springs and Alpharetta, Ga. offices, creating 150 jobs in it’s Atlanta headquarters. Equifax will lease 100,000 square-feet — or four floors — at One Atlantic Center, a 50-story skyscraper near its 1550 Peachtree St. headquarters.
“I am pleased that Equifax, one of Atlanta’s premier home-grown companies, will deepen its commitment to our city through additional investment and growth. As CEO, Rick Smith has demonstrated his dedication to supporting the success of our city while also building a successful and innovative company,” said Mayor Kasim Reed.
“Over the past decade, Equifax has transformed itself from a credit bureau to a global data and analytics company, contributing to Atlanta’s strong and growing FinTech sector. Forward-looking, technology-driven companies are choosing Atlanta as the place to expand their businesses and add well-paying, family-supporting jobs.”
Equifax is best known as a credit reporting company, but the 117-year-old firm has evolved into a financial analytics provider that helps businesses understand their customers’ credit behavior and credit-worthiness. Equifax also uses social media and Internet data to identify consumer behavior trends.
“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,” said Andy Bodea, Chief Global Operations Officer for Equifax. “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.”
Credit reports, which accounted for about 80 percent of Equifax’s revenues in 2005, now account for about half the company’s revenues.