Amkor Technology will relocate its proposed semiconductor packaging plant to a piece of state land recently auctioned off to Peoria, which plans to develop a larger tech-industry hub at the site.

Peoria purchased the 835-acre area at auction for $46.7 million on Aug. 27. The city was the only bidder. It is scheduled to execute a land exchange and other agreements with Amkor on Aug. 28, which would give the chip packaging company a 104-acre parcel.

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