If the benefit from attracting another massive semiconductor manufacturer is anything like what has occurred with the Taiwan Semiconductor Manufacturing Corp. plant in Phoenix, then look out.

Hyperion Technologies is considering building a multibillion-dollar semiconductor manufacturing plant in Peoria. The company outlined its plans on its website.

The newly formed company is planning to establish a West Valley manufacturing plant for high-density interconnect substrates, which support the functionality of semiconductor chips.

The company has proposed a 600,000-square-foot factory that would create as many as 1,500 jobs in the city of Peoria. Over a decade, that project is estimated to have a $6.6 billion economic output in the Phoenix region and also create 4,500 construction jobs.

Hyperion would join a growing list of companies that support the semiconductor industry. Amkor Technology Inc. plans to build a $2 billion semiconductor packaging plant in Peoria, just down the Loop 303 from the Taiwan Semiconductor Manufacturing Co.’s $65 billion facility in north Phoenix.

Hyperion says it would like to start construction by the second half of 2025, with substantial completion expected in late 2026.