Peoria, AZ (February 6, 2024) Amkor Technology's plans for its huge semiconductor advanced packaging and testing facility in Peoria are moving at "full speed," the Tempe-based company's top executives said on a recent earnings call.

Amkor (Nasdaq: AMKR) officials said Feb. 5 that the company is optimizing the design of its proposed facility, which will be built on 55 acres near Taiwan Semiconductor Manufacturing Co.'s factories now under construction in north Phoenix. The company is also aligning technology requirements with customers and working with contractors to plan the "building cycle," for the facility.

Amkor announced in November that is plans to invest $2 billion in the semiconductor advanced packaging and testing facility that will serve customers including Apple Inc. and create more than 2,000 new jobs. The plant will consist of 500,000 square feet of clean room space, while its advanced packaging and testing capabilities will support high-performance computer, automotive and communications markets, filling a gap in the semiconductor chip supply chain in the U.S.

Advanced packaging — one of the final steps in semiconductor chip manufacturing — allows multiple devices to be packaged as one electronic device. It’s a costly process that’s mostly done in Asia.

“We have a target to be ready for high-volume manufacturing in approximately two to three years,” Megan Faust, Amkor’s chief financial officer and executive vice president, said on the earnings call in reference to the Arizona facility. “We are excited to see the technology advancements in the industry and believe the secular growth drivers are intact.”

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