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Amkor\u2019s outsourced packaging plant has been in the works for years. It received up to $407 million<\/a> in direct funding<\/span><\/span> from the CHIPS and Science Act last year to support the $2 billion investment<\/a> and creation of more than 2,000 jobs for the Peoria area.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n The project was originally slated for a 56-acre parcel within the Five North mixed-use development\u00a0<\/strong>at Vistancia, but changed course after facing pushback<\/span><\/span> from nearby residents<\/a> w<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>ho raised environmental and health concerns. Prior to the land swap, Amkor posted webinars in an effort to get the community on board with the project.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Ultimately, the company relocated as market demands and increased project scope<\/a> necessitated a larger site, according to a news release from the city of Peoria.\u00a0The new site is also located farther away from local schools, businesses and residents.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n \u201cThis new site offers the flexibility to meet growing customer demand and reinforces our commitment to U.S.-based chip manufacturing,\u201d Amkor CEO Giel Rutten said in a statement last week.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Amkor<\/span><\/span> <\/span><\/span><\/span><\/span><\/span><\/span>collaborated with Apple on the project<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a>, which is expected to package and test chips produced for the iPhone maker at a nearby Taiwan Semiconductor Manufacturing Co.\u00a0fabrication facility. In 2023, Amkor<\/span><\/span> said Apple will be its first and largest customer when the factory opens.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n In a July 28 earnings call, Rutten updated investors on the project, saying Amkor\u2019s approach has not changed and it considers TSMC to be \u201ca very important partner.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Amkor generated revenue of $1.5 billion<\/a> in its latest quarter, up 3% from a year ago. It also posted net income of $54.4 million for the period, down 19% over last year.<\/p>\n \u201cWe\u2019re working with customers as well as with foundry partners to align on our road map, and we are making good progress there,\u201d Rutten said.<\/p>\n<\/p><\/div>\n