PEORIA, AZ — Amkor Technology Inc. has taken the next major steps toward building its $2 billion semiconductor factory in metro Phoenix. That includes securing a prime piece of land for free.
The Tempe-based manufacturer has obtained 56 acres in the Vistancia master-planned community from Vistancia Development LLC, an entity connected to California-based IHP Capital Partners, which acquired the balance of Vistancia in 2021 with Varde Partners.
Through a development agreement with the city of Peoria, the municipality provided 50 acres at no cost to Amkor (Nasdaq: AMKR). The company also acquired an additional 6.3 acres for $4.1 million in November, or about $653,000 an acre, from Vistancia Development LLC.
