Amkor has been honored with the CHIPS Incentive Award

The Biden-Harris Administration announced that Amkor Technology Arizona, Inc., a subsidiary of Amkor Technology, Inc., has been awarded up to $407 million in direct funding by the U.S. Department of Commerce under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities. This funding will enable Amkor to invest approximately $2 billion in a new advanced packaging and test facility in Peoria, Arizona. The project is expected to create over 4,000 jobs in Arizona, including 2,000 manufacturing jobs and 2,000 construction jobs at the peak of construction.

Amkor is a leading U.S.-based outsourced semiconductor assembly and test company (OSAT) known for its expertise in advanced packaging technology, which plays a crucial role in supporting leading-edge clusters and meeting the increasing demand for AI chips. The award to Amkor follows a preliminary memorandum of terms signed on July 26, 2024, and the completion of the Department’s due diligence process. The funds will be disbursed based on the company’s completion of project milestones.

U.S. Secretary of Commerce Gina Raimondo emphasized the importance of bringing advanced packaging capabilities to the U.S., stating that this move will enhance domestic supply chain resilience and establish the U.S. as a global technology leader. National Economic Advisor Lael Brainard highlighted the role of the CHIPS and Science Act in helping the U.S. maintain its lead in future industries.

Amkor’s President and CEO, Giel Rutten, expressed gratitude for the support received from the Department of Commerce and other agencies in finalizing the terms for the CHIPS Act funding. This investment will help establish a robust semiconductor manufacturing supply chain in the United States.

For more information on this project, visit the CHIPS for America website.



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