Amkor plans to construct a packaging and testing facility in Peoria. Amkor estimates it will invest around $2 billion and create 2,000 jobs at the new facility. The company acquired a 55-acre property near the incoming Taiwan Semiconductor Manufacturing Co., plant in north Phoenix. The company plans to build a facility with about 500,000 square feet of “clean room space.”

Amkor, which has maintained a presence in Phoenix since 1984, provides outsourced semiconductor assembly and test (OSAT). The new plant will package and test chips for Apple.

Amkor has applied for funding through the CHIPS Act, which allocates around $280 billion in funding to enhance domestic semiconductor research and manufacturing within the United States. This includes $39 billion in incentives to support chip production within the country, a 25% investment tax credit for manufacturing equipment expenses, and $13 billion designated for semiconductor research and workforce training.