Gallego Announces $400 Million in CHIPS Act Funding Coming to Peoria

Gallego Announces $400 Million in CHIPS Act Funding Coming to Peoria

PHOENIX - Today, Rep. Ruben Gallego (AZ-03), announced that U.S. Department of Commerce and Amkor Technology, Inc. have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $400 million in funding under the CHIPS and Science Act. This funding would support Amkor's investment of approximately $2 billion and 2,000 jobs in Peoria, Arizona.

"Once again, our CHIPS and Science Act is delivering for Arizona," said Rep. Gallego. "The Valley of Sun is the national hub for end-to-end semiconductor manufacturing, which is critical to our national security. The funding announced today will create even more good-paying jobs and lower costs for Arizonans. I look forward to working with Commerce and the City of Peoria to ensure this project's success."

The CHIPS and Science Act, which Rep. Gallego helped pass, provides $52.7 billion for semiconductor research, development, manufacturing, and workforce development - fueling Arizona's technology and manufacturing growth. According to the Arizona Commerce Authority, from January 2020 to March 2024, Arizona attracted more than 35 announced semiconductor industry expansions representing over 13,000 jobs and over $65 billion in investment, making Arizona number 1 in the nation for new semiconductor jobs, investment, and supplier expansions.

To maximize the opportunity to bring microchip manufacturing to Arizona, Rep. Gallego backs the bipartisan, bicameral Building Chips in America Act. The legislation would ensure federal environmental reviews are completed in a timely manner for these microchip projects by streamlining approval for projects currently under construction and others that could be delayed, and by providing the Secretary of Commerce greater tools to more effectively and efficiently carry out reviews.