The city of Peoria is finalizing a development agreement with Tempe-based Amkor Technology for the future location of their state-of-the-art advanced semiconductor packaging and testing campus.

“It is no secret that our nation is reshoring its advanced manufacturing industries.  We are proud of Peoria’s global leadership in this movement, and the significant capital investment and quality jobs that it brings to our community,” said Mayor Jason Beck. “This tremendous announcement is a credit to the City Council’s commitment to economic development, and staff’s hard work and dedication on this project.”

While the final details of the development agreement are still being worked out, this announcement will bring 2,000 jobs to Peoria, representing a $2 billion local investment.

Amkor’s plans for the Peoria facility will provide high volume, leading-edge technologies for advanced packaging and testing of semiconductors to support critical markets such as high-performance computing, automotive, and communications. The company announced preliminary details of the project earlier today.

The first phase of the manufacturing plant is targeted for production to begin within the next two to three years.

A final development agreement is scheduled to go before the City Council in early 2024.