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economic development

Peoria wins state land auction, Amkor to relocate from Vistancia

Special council meeting called for Aug. 28 to discuss the land use

Peoria was the successful bidder for about 835 acres in a state land public auction Aug. 27, with a final bid of $46.7 million, which was also the opening bid.

Officials say the Amkor Technology facility, initially planned for the commercial core of Vistancia, will move to the newly purchased parcel in the Peoria Innovation Core.

Council will consider several agenda items related to the land development Aug. 28.

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economic development

Peoria wins state land auction, Amkor to relocate from Vistancia

Special council meeting called for Aug. 28 to discuss the land use

Posted

Peoria was the successful bidder for about 835 acres in a state land public auction Aug. 27, with a final bid of $46.7 million, which was also the opening bid.

Officials say the Amkor Technology facility, initially planned for the commercial core of Vistancia, will move to the newly purchased parcel in the Peoria Innovation Core.

Council will consider several agenda items related to the land development Aug. 28.

If approved, a land exchange agreement and development agreement amendment will allow Amkor Technology to move forward with construction for their semiconductor packaging and test facility on 104-acres of the newly acquired property.

Amkor fully supports the city of Peoria in its successful acquisition of this state land property, Giel Rutten, Amkor’s president and chief executive officer, stated in a news release.

“Pending city council’s approval, we look forward to immediately beginning construction of what will be the largest outsourced semiconductor packaging and test facility in the U.S," Rutten said. "Amkor’s multi-phase investment in facilities and equipment will play an integral role in securing the semiconductor supply chain essential for critical industries including high-performance computing, communications, and automotive.”

City officials say this project will create 2,000 new local jobs, representing a $2 billion investment in Peoria, while securing the nation’s semiconductor supply chain by producing this in-demand product in the United States.

Vistancia area residents have been at odds with the city over the Amkor faciliy locating in Five North, the master-planned development's commercial core.

Peoria, Arizona, state land, public auction, Arizona State Land Department, Amkor

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