Post Date: 08/28/2025 7:46 PM
Peoria, AZ (August 28, 2025) – Following its successful $46.7 million purchase of 834.5 acres of Arizona State Trust Land on Wednesday, the Peoria City Council this evening approved a series of agreements to launch development in Core 2 of the Peoria Innovation Core (PIC).
“Today is a historic milestone for Peoria. By securing this land and moving forward with these agreements, we are laying the foundation for our partnership with Amkor—a $2 billion investment that will bring 2,000 high-quality jobs to our community,” said Mayor Jason Beck. “Peoria has solidified its role in strengthening America’s semiconductor supply chain, while demonstrating what bold vision, collaboration, and long-term strategy can achieve. I am deeply grateful for the outstanding leadership and teamwork from both the City of Peoria and Amkor that made this achievement possible.”
The City first submitted its application to the Arizona State Land Department (ASLD) in December 2024 to bring this site—located northwest of Loop 303 and Lake Pleasant Parkway—to market.
Amkor Project Moves Forward at Peoria Innovation Core (PIC)
The first project breaking ground at the newly acquired PIC Core 2 site will be Amkor Technology’s advanced semiconductor packaging and test facility. Thanks to Council-approved agreements, Amkor will relocate from a 56-acre parcel in FIVE NORTH at Vistancia to a 104-acre site in Core 2, reflecting the company’s expanded project scope and need for additional space.
This move represents a $2 billion investment and will create 2,000 local jobs, aligning with City Council’s priorities to drive economic growth while strengthening the U.S. semiconductor supply chain. Infrastructure work in Core 2 is already 95% designed, with construction underway on Ashler Hills Road and utility systems. Amkor is expected to begin site work in early September, with a ceremonial groundbreaking scheduled for October.
With Amkor shifting to PIC, the Council approved updated agreements with Vistancia Development LLC to guide future use of the original 56-acre site at FIVE NORTH. New projects there include:
HonorHealth, which has signed a Letter of Intent for a medical district with urgent, primary, concierge, and ambulatory care on an initial 8-acre site (with expansion rights).
West-MEC, which plans a 5–7-acre campus focused on medical and career/technical education programs.
Mayor Jason Beck praised the progress: “Tonight’s action proves we are fulfilling our promise to grow responsibly, embrace innovation, and protect what makes Peoria special.”
Background on PIC
PIC covers 7,000 acres (10.5 sq. miles) in northern Peoria.
The City purchased 834.5 acres (Core 2) at a State Land Department auction on August 27, 2025, for $46.7 million (benefiting Arizona’s K–12 public schools).
Under its agreement with ASLD, Peoria serves as master planner, ensuring cohesive development and reimbursement for city-funded backbone infrastructure.
Public meetings on PIC’s master plan will continue through late 2025 and early 2026, culminating in formal zoning and development approvals.
Amkor Facility Timeline
Early September 2025 – site grading begins.
October 2025 – official groundbreaking.
Facility to be built in two phases, with Phase 1 opening in late 2027.
