Amkor Technology
About
August 2025 Update
Following the city’s successful $46.7 million bid for 834.5 acres of Arizona State Trust Land on August 27, 2025, the City Council approved a series of agreements that will jump-start development in Core 2 of the Peoria Innovation Core (PIC).
“Today marks a defining moment in Peoria’s history. By securing this land and adopting these agreements, we are paving the way for our partnership with Amkor, which represents a $2 billion investment in our city that will create 2,000 high-quality jobs, said Mayor Jason Beck. “As a City, Peoria has firmly established its important role in strengthening America’s semiconductor supply chain, while setting a clear example of what can be achieved through bold vision, close collaboration, and strategic long-term planning. I commend incredible leadership from so many across both the City of Peoria and Amkor, whose efforts have realized such a monumental outcome.”
In December 2024, the city applied to the Arizona State Land Department (ASLD) to bring this property to market, which is located northwest of the intersection of Loop 303 and Lake Pleasant Parkway.
The first project to move forward on the new site is Amkor Technology’s state-of-the-art advanced semiconductor packaging and test facility. The Council-approved land exchange agreement and development agreement amendment allows Amkor to relocate its planned facility from 56 acres in FIVE NORTH at VISTANCIA, to a 104-acre site in Core 2.
Tonight’s action supported Amkor’s emerging need for a new location, as market demands, and increased project scope necessitated a larger site. It also aligns with Council’s vision to create new jobs and revenues, as Amkor will create 2,000 new local jobs, and bring a $2 billion investment in Peoria, while securing the nation’s semiconductor supply chain by producing this in-demand product in the United States.
Already, the city has designed 95% of the infrastructure needed in Core 2, with construction already underway on Ashler Hills Road, a key east-west arterial, and the required utility infrastructure required to serve the area. Amkor is prepared to begin construction in early September with a ceremonial groundbreaking set in October.
October 6 - Amkor breaks ground in Peoria’s Innovation Core
Amkor Technology, a global leader in semiconductor packaging and testing, broke ground today, on a $7 billion advanced manufacturing campus in Peoria. This is the first business to build within Peoria’s new Innovation Core.
The new Amkor Peoria campus will feature more than 750,000 square feet of cleanroom manufacturing space across two phases and is expected to create up to 3,000 high-quality jobs in engineering, operations, and advanced manufacturing.
January 2026: Business Facilities Magazine has selected the City of Peoria as the 2025 Deal of the Year Award, GOLD recipient for the Amkor Technology project at the Peoria Innovation Core (PIC), recognizing Peoria’s leadership, vision, and execution in securing one of the most significant economic development wins in the nation.
May 13, 2026 - The City of Peoria has earned one of the highest honors in economic development as Site Selection Magazine named the Amkor Technology project at the Peoria Innovation Core (PIC) the Number One Deal in North America.
The recognition places Peoria at the forefront of the nation’s semiconductor and advanced manufacturing boom and highlights the city’s bold leadership, strategic vision and collaborative execution in securing one of the most transformative economic development projects in the United States.
May 19, 2026 Amkor purchases additional PIC land. Peoria City Council approved a land purchase agreement with Amkor Technology at their Tuesday night Regular Meeting. Per the agreement, Amkor will purchase 67 acres of land denoted as “Parcel D,” located adjacent to their existing 104-acre property within the Peoria Innovation Core (PIC). Read more: Amkor purchases additional PIC land.
Project Information Prior to August 28, 2025
Project Description
On February 20, 2024, the Peoria City Council unanimously approved a development agreement with Tempe-based Amkor Technology, at the Tuesday night Regular Council Meeting, for the future location of their state-of-the-art advanced semiconductor packaging and test campus.
Through the agreement Amkor has committed to develop the largest outsourced semiconductor packaging and test facility in the United States, representing a $2 billion multi-phase investment in Peoria, adding 2,000 new local jobs.
The public infrastructure associated with the project, to be located in FIVE NORTH at VISTANCIA, a 320-acre mixed use lifestyle and employment core, will be constructed and reimbursed by a three-way Joint Development Agreement with Vistancia Development LLC, Amkor and the city of Peoria, of which the city will reimburse up to $3 million toward the cost of the public infrastructure. The Peoria City Council approved that Joint Development Agreement on October 15, 2024.
The zoning for this site has existed for over 20 years, allowing for mixed-use, commercial and industrial in Five North. Please view this summary and the following slides for background.
Amkor’s Peoria 55-acre campus will provide high volume, leading-edge technologies for advanced packaging and testing semiconductors to support critical markets such as high-performance computing, automotive, and communications. Follow the project and submit questions at Amkor’s project site: https://amkor.com/amkor-technology-arizona.
On June 18, 2024, the Peoria City Council approved support for Amkor Technology’s pending application for Foreign Trade Zone status. Such designation would facilitate international trade and investment by allowing merchandise and materials to be shipped to the Amkor Peoria location, and then exported without being subject to certain tariffs and import restrictions, which ultimately leads to lower costs to consumers.
On July 26, 2024 Amkor Technology announced it signed a Memorandum of Terms to receive up to $600 million in federal CHIPS Act funding for its outsourced advanced packaging and test facility in Peoria. Link to their news release: https://ir.amkor.com/news-releases/news-release-details/amkor-signs-preliminary-memorandum-terms-us-department-commerce
February 27, 2025 Town Hall
Councilmember Matt Bullock hosted a Town Hall at the Mountain Vista Club Recreation Center, where staff presented details related to Amkor's planned Peoria facility. They presented close-up road elevations and an aerial map featuring the distance from Amkor and nearby planned and existing roadways.
Amkor Project Videos
"Chemical Handling" Video 05/05/2025
"Water Safety" Video 06/11/2025
"Air Quality" Video 07/16/2025
Background
The Peoria City Council’s Strategic Priority of “Economic Development” includes direction to grow revenue opportunities and job creation throughout the city. Amkor’s Peoria facility is hailed by state and national interests as a pivotal milestone in advancing semiconductor manufacturing within the United States, that can catalyze a new component of the semiconductor supply chain throughout the nation.
Related Information
Frequently Asked Questions (Posted: 03/20/2025 Amended: 04/03/2025, 04/24/2025)
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