Peoria council approves sale of 67-acre parcel to Amcor; staff says deal supports expansion and jobs

Peoria's City Council voted May 19 to approve a purchase-and-sale agreement and resolution (2026-77) to sell a 67-acre parcel at the southeast corner of Amcor Way and 96th Avenue to Amcor Technology Arizona Inc.

Economic Development Director Maria Lochner told council the city negotiated a first right of refusal on the 67 acres during earlier development-agreement amendments and that the proposed sale price reflects a market value of roughly $32.5 million (about $11.13 per square foot). Lochner said Amcor will open escrow within three days of executing the agreement, conduct up to 180 days of due diligence, and close shortly thereafter with the goal of concluding the land sale by the end of the calendar year.

Lochner summarized the project's local and regional economic impacts: Amcor's campus in Peoria will expand advanced packaging and test capacity for semiconductors, a sector that staff said will support artificial intelligence and automotive markets. Staff projected the company will be an employment anchor that could create about 3,000 jobs and attract additional prospects to the area.

Council members questioned the city's total recoveries on prior land purchases and infrastructure spending. Staff said the city paid roughly $50 million for the state land purchase (including financing), that core infrastructure for the park is estimated at about $130 million, and that cash recovery to date is around $88 million with line-of-sight to break-even in roughly 2.5 to 3 years under current projections.

A member of the public, Shannon Simo, told council she opposed the sale and asked how the project would address water, electricity and direct benefits for nearby residents. After discussion, council moved and approved item 12R; the vote passed unanimously (7-0).