A Chip Ecosystem Thrives
A semiconductor packaging and test facility has landed in Peoria, Arizona, with an investment of $2 billion. Leading semiconductor manufacturer Amkor Technology, Inc., has decided to expand on the company’s 39-year presence in the Greater Phoenix area. “Semiconductor companies, foundries and other supply chain partners understand the need to strategically broaden their geographic footprint. The announcement of our new advanced packaging and test facility in Arizona is a clear signal of our intent to help our customers ensure resilient supply chains and be a part of a strong American semiconductor ecosystem,” said Amkor President and CEO Giel Rutten. The 55-acre site will be built out in phases, with the first phase expected to come online within the next two to three years. The location decision was made strategically, as the company will support Apple’s Arizona semiconductor fab. Upon completion the Amkor facility will create 2,000 new jobs.
Amkor joins a growing number of chip manufacturers and suppliers in the state.
Photo: Getty Images
Committed to Clean Delivery in New York
New York’s Plattsburgh International Airport will be seeing a lot more of BETA Technologies as the company invests $41 million to upgrade its current facility, first established in 2017. The aerospace company’s expansion will support production and testing of its all-electric aircraft by establishing BETA’s permanent test flight and aircraft delivery center, bringing on 85 full-time jobs. The investment is supported by a $20 million grant from Clinton County as part of the Empire State Development Regional Economic and Community Assistance Program. As the company moves forward with its electric aircraft, companies such as UPS and United Therapeutics are lining up to purchase it.
BETA Technologies moves forward with manufacturing a fully electric aircraft.
Photo courtesy of BETA Technologies
Where There’s More to Minimum
Over 20 states have announced plans to increase their minimum wage in 2024. Here is a look at the top wage increases.
Source: Data provided by ADP
Photo: Getty Images
Ditch Traffic for High-Speed
In December 2023, California Governor Gavin Newsom and the California High-Speed Rail Authority received word of a $6 billion funding influx from the Biden-Harris Administration’s Infrastructure Investment and Jobs Act. This award will be used to advance the state’s goal of building its 500-mile Central Valley railway that will offer affordable and fast transportation from Los Angeles to San Francisco. A trip that would typically take a little over six hours by car (not accounting for traffic) will be available by bullet train at speeds of over 200 miles per hour when complete in 2028. California High-Speed Rail Authority’s $3.07 billion share of this funding represents the largest federal investment to date and aids in advancing various aspects of the project. It will be used to purchase six electric trains for testing and use, design and construct trainset facilities, construct a Fresno station, acquire the state’s Merced and Bakersfield extensions from Amtrak and fund construction within the Central Valley.
Testing of the initial rail line will begin in 2028, with the potential to take 400,000 vehicles off the roads.
Rendering courtesy of the California High-Speed Rail Authority
Nothing Sappy
With eight mill locations throughout Louisiana, Weyerhaeuser has plans to invest $96.2 million to upgrade its Shreveport lumber mill. The company’s Winn Parish location will expand to include new technology that will aid in increasing overall safety, productivity and reliability. In doing so, the lumber mill will add three Continuous Dry Kilns, a low-carbon process drying system and a new trimmer, sorter and stacker over the next two years. The state awarded the company a $500,000 performance-based forgivable loan from the Economic Development Award Program to cover costs associated with the expansion.
Installation of the new Dry Kilns will reduce the Weyerhaeuser’s greenhouse gas emissions, waste and maintenance costs.
Photo courtesy of Weyerhaeuser
Moving Along in Chesterfield
Construction is well underway for engineering and design firm Timmons Group’s new $50 million HQ in Chesterfield, Virginia. To be located in the county’s Springline at District 60 development center, the five-story, 150,000-sq.-ft. facility will be home to the company’s 400 employees by the end of 2024. The new HQ is just a mile away from Timmons’ current offices, allowing for a smooth transition once complete. Timmons is one of the first companies to occupy space at the mixed-use development, which plans to offer a sports and entertainment venue, a grocery store, residential living and retail space upon full buildout.
Engineering and design firm Timmons Group will bring 400 employees to Springline at District 60 in 2024 with a $50 million investment.
Photo courtesy of Chesterfield County
