$2B Phoenix Project Lands CHIPS Act Funding
1 min read
Semiconductor company Amkor Technology has signed a non-binding preliminary memorandum of terms with the U.S. Department of Commerce to receive proposed funding as part of the CHIPS and Science Act. Terms include up to $400 million in proposed direct funding and access to $200 million in proposed loans.
The provider of semiconductor packaging and test services announced in November 2023 its plans to build its first domestic OSAT (outsourced semiconductor assembly and test) facility in Peoria, Ariz. The project got city approval for the Phoenix-area project earlier this year.
Amkor projects to invest approximately $2 billion and employ approximately 2,000 people at the new facility. Upon completion, this will be the largest outsourced advanced packaging and test facility in the U.S.
READ ALSO: Semiconductor Boom Continues to Boost CRE
Amkor secured some 55 acres for the manufacturing campus, which will include more than 500,000 square feet of clean room space. The first phase of the facility targets production within three years.
President Biden signed the CHIPS Act into law on Aug. 9, 2022—creating a $52 billion investment to revitalize America’s domestic semiconductor industry and strengthen the country’s economic and national security. So far, $30 billion in funds have been issued.
The post $2B Phoenix Project Lands CHIPS Act Funding appeared first on Commercial Property Executive.
