Phoenix/ Real Estate & Development
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Published on February 22, 2024
Peoria Powers Up $2B Semiconductor Plant to Energize Economy with 2,000 JobsSource: City of Peoria

Peoria, often outshined by its metropolitan neighbors, is set to house a mammoth $2 billion semiconductor packaging and testing plant by Amkor Technology Inc., vaulting the city into a new economic stratosphere. The Peoria City Council has given the green light to the project, predicted to generate 2,000 jobs and secure Peoria's spot as a critical player in the U.S. semiconductor supply chain. Amkor, already a juggernaut in packaging and design with a hefty $6.5 billion sales record in 2023, seems poised to further dominate by building the largest outsourced packaging plant stateside, as reported by ABC 15.

The facility isn't just a win for Amkor, but a coup for the entire West Valley job market, set to throw Peoria into the international limelight. By nabbing industry titans like Taiwan Semiconductor Manufacturing Co. and Apple Inc. for chip testing, Amkor firmly stamps its mark as a behemoth in tech logistics. The deal, hashed out with diligence by the Peoria City Council, saw Amkor promise to initially drop at least $700 million and recruit 850 individuals, as detailed in an agreement explicitly stipulating timelines for construction and commencement of hiring, as per the Business Journal.

Amid a landscape punctuated by burgeoning tech expansions, the Amkor project is the piece de resistance for Peoria's economy. The 55-acre plant near Loop 303 and Vistancia Boulevard is much more than a facility; it represents a boon for the community, offering prospects for continuous education, career growth, and valuable infrastructure. It’s a commitment that was cemented through a series of strategic meetings that began as early as 2021, with economic momentum gathering during the Super Bowl event hosted in 2023, where Peoria officials pitched their city's offerings to top Amkor executives.

David McCann, Amkor's senior vice president, highlighted the technological renaissance the facility promises to fuel. "We're in a new dynamic of growth with artificial intelligence, the interconnectivity of things, all the sensors and cameras that surround us in our cars and in our environments," McCann elucidated, revealing the diverse industries that Amkor's business will touch. The project, expected to be up and to run in two to three years, harnesses CHIPS Act funding incentives, further bolstering its fiscal cushion and potential longevity, as stated by the Business Journal.

Phoenix-Real Estate & Development