Amkor Technology to Invest $2 Billion in Semiconductor Testing Plant in Peoria, Creating 2,000 Jobs

Amkor Technology Inc., a leading provider of semiconductor packaging and testing services, has announced its plans to build an advanced facility in Peoria, Arizona. The project is expected to cost $2 billion and will bring approximately 2,000 jobs to the area. The company will also partner with the nearby Taiwan Semiconductor Manufacturing Co. complex to package and test chips produced for Apple Inc. The manufacturing campus will span over 55 acres of land and feature more than 500,000 square feet of clean room space. The first phase of the plant is set to be ready for production within the next two to three years, with groundbreaking anticipated in the second half of 2024. Amkor's investment in the Peoria complex will help to expand the global supply chain for semiconductor packaging. Advanced packaging plays a crucial role in creating more efficient devices capable of processing large amounts of data quickly and in a power-efficient way. The demand for high-performance, low-power chips is increasing with the rise of emerging technologies such as 5G, autonomous vehicles, and Internet of Things (IoT) applications. Amkor, headquartered in Tempe, Arizona, is one of the state's larger public corporations with a stock market worth of $7 billion. The company currently employs around 400 people in Arizona and has its largest customers in Apple and Qualcomm. The announcement of Amkor's investment in Peoria has been met with enthusiasm. Arizona Senator Mark Kelly, a supporter and chief negotiator of the CHIPS and Science Act, sees this as a significant step toward reducing dependence on other countries in the microchip supply chain. Arizona Governor Katie Hobbs believes that the project will solidify the state's position as a world leader in the semiconductor industry. Amkor has applied for federal funding under the CHIPS and Science Act, which aims to boost American competitiveness, innovation, and national security in the semiconductor industry. The company views this funding as critical to the success of the Peoria project. The construction of Amkor's semiconductor testing plant in Peoria is a testament to the growing presence of the semiconductor industry in Arizona. With major players like TSMC, Intel, Applied Materials, and ASML also operating in the state, Arizona is becoming a hub for semiconductor manufacturing and innovation. This investment by Amkor Technology not only brings significant economic benefits to the region but also strengthens America's advanced packaging capabilities. The expansion of the U.S. semiconductor supply chain is underway, and Amkor is leading the charge in creating a resilient and robust ecosystem for semiconductor manufacturing in the country.