Up to $2 billion is expected to be spent building a new 2 million square foot semiconductor manufacturing facility in Peoria.
The company Amkor Technology says it wants to begin construction soon on the plant in the tech hub officially called the Peoria Innovation Core.
Headquartered in Tempe, Amkor was founded in 1968 and has since become one of the country’s largest semiconductor product packaging and test services provider. Its revenues exceeded the $6.5 billion mark last year.
The company had earlier planned to build in Peoria’s Vistancia master planned community, but announced a change of plans once the city made the winning bid of $46.7 million in an Arizona State Land Department auction to buy the 834 acres for the Peoria Innovation Core.
That property is located more specifically near the intersection of Lake Pleasant Parkway and Arizona State Route 303. Amkor is expected to build on just over 100 acres at the Peoria Innovation Core site.
In a statement, Giel Rutten, chief executive officer of Amkor, said the new facility will “play an integral role in securing the semiconductor supply chain essential for critical industries, including high-performance computing, communications, and automotive.”
August 29, 2025
By Garry Boulard
