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ECONOMIC DEVELOPMENT

Amkor expected to receive up to $600M in federal funding

Tech company plans close escrow on Peoria property in couple months

A microchip packaging and testing plant planned for the Vistancia commercial core in north Peoria is about to get a boost of funding from the federal government.

Amkor Technologies has signed a non-binding preliminary agreement with the U.S. Department of Commerce to receive up to $600 million in proposed funding as part of the CHIPS and Science Act.

Amkor could receive up to $400 million in proposed direct funding and access to $200 million in proposed loans.

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