Amkor Technology grows presence in Peoria, spends $32.5M on 67 more acres

The Peoria City Council on Tuesday approved the sale of 67 acres of State Trust Land to Amkor Technology, which is investing heavily in the northwest Valley suburb.

The parcel, which is next to the 104-acre property that Amkor already owns in north Peoria, sold for just under $32.5 million.

Amkor has committed $7 billion toward an advanced semiconductor packaging and testing facility that is under construction near Lake Pleasant Parkway and Loop 303.

The project will create an estimated 3,000 jobs with an average salary of about $100,000, city officials said. The first phase is expected to open in early 2028.

Amkor land is within Peoria Innovation Core

It is located within what is known as the Peoria Innovation Core, or PIC, a partnership between the city and Arizona State Land Department.

Under the PIC agreement, the State Land Department reimburses Peoria for certain costs related to the development of auctioned parcels.

“This deal advances the council’s vision for the PIC that allows the city to invest in our future with the historic state land purchase of 834 acres, assume master-developer rights within the entire 7,300-acre PIC and fund upfront infrastructure improvements, subject to reimbursement, to attract timely revenue and job-generating development,” Peoria Mayor Jason Beck said. “We created a smart growth plan, and we are now seeing it come to fruition in record time.”

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