Amkor uncertain on timeline for CHIPS Act disbursement

Amkor Technology Inc. is uncertain when it could receive milestone-based federal CHIPS Act funding to support buildout of its advanced packaging facility in Peoria, an executive of the Tempe company said on an earnings call Monday.

Amkor (Nasdaq: AMKR) in December finalized an agreement with the White House for more than $400 million in CHIPS Act grants and a potential 25% tax credit on capital expenditures for the facility, which will be built in two phases on 55 acres in the commercial corridor in the master-planned Vistancia community in the northwest part of the Valley.

Amkor is allocating up to 10% of $850 million in forecasted capital expenditures this year to support initial construction of its advanced packaging facility. The plant is slated to break ground in late 2025, Megan Faust, Amkor’s chief financial officer, told analysts on the Feb. 10 earnings call.

Amkor’s CHIPS Act award is attached to completion of certain project milestones and the company does not expect to receive federal grants this year, but will have more information to share about its federal funding disbursement “moving into 2026,” Faust said.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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