Amkor Technology Inc. is doubling down on Peoria, raising its projected 2026 capital spending to between $2.5 billion and $3 billion, with much of that investment directed toward the advanced packaging campus taking shape near Loop 303. The project is supported by more than $2.85 billion in government incentives and tax credits, funding tied to construction milestones as the site moves from groundwork to cleanrooms.
Between 65% and 70% of the planned spending will flow to the company’s 2.3-million-square-foot manufacturing campus. Now estimated at $7 billion, the project will include more than 750,000 square feet of cleanroom space and is expected to create about 3,000 jobs. The first phase is scheduled for completion in mid-2027, with production anticipated in early 2028.
Fourth-quarter financial results provided additional context. Amkor reported $1.89 billion in revenue, exceeding expectations and increasing above the same period a year earlier. For 2025, revenue reached $6.71 billion, a 6% increase over 2024.
The expansion strengthens Arizona’s strategy to build out not only wafer fabrication but also the packaging and testing operations that complete the semiconductor manufacturing process. The Peoria campus is designed to package and test chips manufactured nearby, including those produced at Taiwan Semiconductor Manufacturing Co.’s north Phoenix facilities. Keeping fabrication and advanced packaging within the same region marks another step in Arizona’s effort to localize more of the semiconductor supply chain.
