1. Amkor plans a new semiconductor facility in Peoria, Arizona. 2. Construction begins soon; production expected by early 2028. 3. $2 billion investment projected to create 2,000 new jobs. 4. Amkor reinforces commitment to U.S. semiconductor supply chain. 5. Collaboration with TSMC and others enhances manufacturing capacity.
Amkor's significant investment and job creation indicate strong future growth, reminiscent of past industry expansions that boosted stock prices.
The article highlights strategic developments that may significantly affect AMKR's growth trajectory.
The facility's production start in 2028 suggests effects will take time to materialize, similar to previous infrastructure launches in tech.
Peoria, Arizona City Council approves land swap, development agreement to facilitate transition
Amkor Technology, Inc. (NASDAQ:AMKR), a leading provider of semiconductor packaging and test services, today announced revised plans for the location of the company's new semiconductor advanced packaging and test facility in Arizona.
The facility will be constructed on a 104-acre site within the Peoria Innovation Core, in north Peoria, AZ. Peoria City Council unanimously approved a land swap and an amended development agreement, allowing Amkor to exchange its previously designated 56-acre parcel within the Five North at Vistancia community. Construction of the facility will begin within days, with production expected to start in early 2028.
"As the largest advanced packaging company in the U.S., Amkor is proud to invest in U.S. semiconductor manufacturing and strengthen the U.S. semiconductor supply chain," said Giel Rutten, Amkor's president and chief executive officer. "This new site offers the flexibility to meet growing customer demand and reinforces our commitment to U.S.-based chip manufacturing."
"Today represents a historic milestone for the partnership between the City of Peoria and Amkor," said Peoria Mayor Jason Beck. "By securing this land, we are not only bringing a $2 billion investment and 2,000 new jobs to our community, but we are further solidifying the important role Peoria will play in strengthening America's critical semiconductor supply chain. This outcome demonstrates the power of strong partnerships and smart long-term planning."
Amkor has operated in Greater Phoenix since 1984. As part of Arizona's growing semiconductor ecosystem, Amkor will work with TSMC and other key semiconductor companies to provide advanced, high-volume manufacturing for industries such as computing, communications, and automotive.
About Amkor Technology, Inc.
Amkor Technology, Inc. (NASDAQ:AMKR) is the world's largest U.S. headquartered OSAT and is a global leader in outsourced semiconductor packaging and test services. With a strong track record of innovation, a broad and diverse geographic footprint and solid partnerships with lead customers, Amkor delivers high-quality solutions that enable the world's leading semiconductor and electronics companies to bring advanced technologies to market. The company's comprehensive portfolio includes advanced packaging, wafer-level processing, and system-in-package solutions targeting applications for smartphones, data centers, artificial intelligence, automobiles and wearables. For more information visit amkor.com.
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