A planned semiconductor assembly and test facility in Peoria is expected to get a funding boost from the federal government.
Tempe-based Amkor Technology signed a preliminary memorandum with the U.S. Department of Commerce to receive proposed funding as part of the CHIPS and Science Act.
The Biden-Harris Administration announced up to $400 million dollars in direct funding and access to an additional $200 million in potential loans. Amkor plans to invest $2 billion in the facility and add 2,000 local jobs.
Amkor’s Peoria facility will help companies like Taiwan Semiconductor Manufacturing Company and Apple package and test chips domestically.
It’s expected to break ground in fall 2025.