PROVIDENCE — Fidelity Investments is planning to move 500 employees from offices in suburban Boston to its sprawling campus in Smithfield, according to several news reports Thursday.

The move is reportedly part of a larger shift of jobs out of the company’s Marlborough, Mass., location. Another 500 workers are expected to be relocated to Fidelity headquarters in downtown Boston.

Gov. Donald L. Carcieri said late Thursday that he welcomed the investment firm’s increased presence in Rhode Island.

“Fidelity has established itself as one of our most important corporate citizens,” Carcieri said in a statement. “Today’s announcement to bring 500 additional jobs to the state is welcome news, and builds on the growing financial services industry here in Rhode Island. Fidelity continues to make an investment in Rhode Island and its work force, and I look forward to the positive impact of the company’s expanded presence.”

The shift will reduce the company’s work force in Marlborough by 950 jobs, according to a report on Boston.com.

As of November, Fidelity had about 3,000 people working on its 500-acre campus in Smithfield, which includes a 577,000-square-foot office building that is said to be Rhode Island’s largest.

The company has about 11,000 employees in Massachusetts.