Groundbreaking Peoria Innovation Core Honored With Prestigious Gold Award Recognition
The City of Peoria has earned international recognition for its leadership in economic development, receiving the Gold Award from the International Economic Development Council (IEDC) in the 2026 Excellence in Economic Development Awards. Peoria was recognized in the Innovative Economic Development category for communities with populations between 200,000 and 500,000 for its groundbreaking work on the Peoria Innovation Core (PIC). The award recognizes Peoria’s bold vision, strategic planning and collaborative partnerships that have positioned the city as one of the nation’s fastest-growing centers for advanced manufacturing and semiconductor innovation. “The Peoria Innovation Core represents a once-in-a-generation opportunity that is reshaping our community and positioning Peoria as a global destination for innovation,” said Mayor Jason Beck. “This international recognition reflects the vision of our City Council, the dedication of our staff and the outstanding partnerships that made this transformative project possible. Together, we are building an innovation ecosystem that will create economic opportunity for generations to come.” The IEDC award adds to a growing list of national honors recognizing the PIC and the city’s successful recruitment of Amkor Technology’s advanced semiconductor packaging and test campus. Earlier this year, Site Selection Magazine named the Amkor project the Number One Economic Development Deal in North America, citing the project’s extraordinary capital investment and job creation. Amkor announced plans to expand its investment in Peoria from an initial $2 billion to $7 billion, creating approximately 3,000 high-wage jobs with an average annual salary of $90,000. The project positions Peoria at the center of Arizona’s rapidly expanding semiconductor ecosystem following passage of the CHIPS and Science Act and complements nearby investments by Taiwan Semiconductor Manufacturing Company (TSMC), strengthening the region’s role as a global semiconductor manufacturing hub. When Amkor’s expansion outgrew its original location, Peoria pursued an innovative solution through a first-of-its-kind partnership with the Arizona State Land Department. The city secured master planning rights for approximately 7,000 acres within the PIC and acquired more than 800 acres, enabling a strategic land exchange that relocated Amkor to a larger site closer to TSMC while preserving long-term development opportunities for the region. The PIC represents a long-term strategy to diversify the city’s economy by attracting advanced manufacturing, technology and innovation-focused industries. The development is expected to create thousands of high-wage jobs while supporting a balanced live-work-play environment, expanding infrastructure investments and strengthening Peoria’s long-term economic sustainability. Phase One of the Amkor campus is scheduled to open in 2028 and become one of the largest advanced semiconductor packaging facilities in the world. The city credits the project’s success to strong collaboration among regional and state partners, including the Arizona Commerce Authority, Greater Phoenix Economic Council, Arizona Public Service, the Arizona State Land Department and Western Maricopa Education Center. The IEDC recognition follows additional national honors received this year, including the 2025 Deal of the Year Gold Award from Business Facilities magazine and the Corporate Investment Community Impact (CiCi) Award from Trade & Industry Development magazine. For more information about the Peoria Innovation Core, visit www.peoriaed.com/PIC . Read more stories from the Phoenix Area on SignalsAZ.com . Subscribe and be the F1RST 2 KNOW ! The post Peoria Innovation Core Receives Gold Award first appeared on Signals AZ .