Article

Peoria is preparing for a crucial vote on March 5 regarding the rezoning of the 11.5-square-mile Innovation Core, which aims to attract semiconductor industries. The city has acquired 835 acres from the Arizona State Land Department, where Amkor Technology is developing a $7 billion semiconductor packaging plant.

Interest from semiconductor companies is increasing, especially near Amkor and Taiwan Semiconductor Manufacturing Co.'s nearby facility. The zoning change will facilitate diverse industrial and residential projects, with 75% of developable land controlled by the state. The planning process for the area has taken two years, with expectations of long-term development extending over decades.