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December 25, 2024 | U.S. Department of CommerceEstimated reading time: 2 minutes
The Biden-Harris Administration announced that the U.S. Department of Commerce awarded Amkor Technology Arizona, Inc., a subsidiary of Amkor Technology, Inc., up to $407 million in direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities. Amkor, the largest U.S.-based outsourced semiconductor assembly and test company (OSAT), is regarded as one of the global leaders in advanced packaging technology which is critical to supporting leading-edge clusters and helping meet the growing demand for AI chips. This award will directly support Amkor’s investment of approximately $2 billion in a greenfield advanced packaging and test facility in Peoria, Arizona and is expected to create an estimated 2,000 manufacturing jobs, and, at the peak of construction, more than 2,000 construction jobs. The award comes after the previously signed preliminary memorandum of terms, announced on July 26, 2024, and the completion of the Department’s due diligence. The Department will disburse the funds based on the company’s completion of project milestones.
“Advanced packaging is a critical part of the semiconductor supply chain, and bringing this capability to the U.S. will mean chips don’t need to be sent overseas after they have been manufactured,” said U.S. Secretary of Commerce Gina Raimondo. “Thanks to Amkor’s investment in Arizona, the U.S. will have the world’s most leading-edge packaging technologies for the first time, enhancing domestic supply chain resilience and establishing the U.S. as a global technology leader for decades to come. Amkor’s project will support critical industries, such as AI and high-performance compute, and create thousands of high-paying jobs.”
“Today’s award with Amkor secures critical advanced packaging technology needed to strengthen our leading-edge manufacturers and ensure we can meet the booming demand for AI right here in America,” said National Economic Advisor Lael Brainard. “The CHIPS and Science Act is helping the United States maintain its lead in the industries of the future.”
“We are pleased to announce that we have finalized the terms for receiving CHIPS Act funding to establish an advanced packaging and test facility in Arizona,” stated Giel Rutten, President and CEO of Amkor. “This new facility will serve as a critical cornerstone in establishing a robust semiconductor manufacturing supply chain within the United States. This milestone would not have been possible without the invaluable support from the Department of Commerce and our dedicated partners across federal, state, and local agencies.”
As stated in the CHIPS Notice of Funding Opportunity for Commercial Fabrication Facilities, CHIPS for America will distribute direct funding to recipients for capital expenditures based on the completion of construction, technology, production, and commercial milestones. The program will track the performance of each CHIPS Incentives Award via financial and programmatic reports, in accordance with the award terms and conditions.
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