Amkor Technology has shifted its planned $2B semiconductor chip facility out of Vistancia and onto a new location in the Peoria Innovation Core.
The City of Peoria was the only bidder in an Arizona State Land Department auction earlier this week for 834.5 acres of State Trust land. Peoria’s bid was $46.7M.
Amkor will build its new plant on 104 acres within the newly purchased site northwest of Loop 303 and Lake Pleasant Parkway, known as Core 2 of the innovation core.
The move appears to be a win-win for all involved. Many Vistancia area residents were adamantly opposed to the planned industrial development on 56 acres in the master-planned area. Amkor will now serve as an anchor resident of the PIC, which officials hope will act as a draw for other advanced manufacturing and similar companies.
Peoria will make infrastructure improvements and preparations for sites in the PIC and then sell the properties to developers over an estimated 20-year period.
The Peoria City Council will meet this week to approve the land exchange and development agreements for the new site. Apart from the location, very little has changed in Amkor’s plan, including the timeline. The company expects to break ground in September or October. (Source)
