PHOENIX, AZ (June 17, 2026) – Following another year of major economic development wins highlighted by historic investments, significant expansions and rapid economic growth, Arizona received a prestigious “Gold Shovel” award from Area Development Magazine in the 5-8 million state population category, marking the sixth year in a row that Arizona has received a gold shovel. The Shovel Awards recognize states that “garnered large job-creating and investment projects through innovative policies, infrastructure improvements, and other processes that attracted new employers as well as investments in expanded facilities.”

In addition, Area Development named Amkor’s $7 billion advanced packaging and testing expansion project in Peoria and Axon’s Scottsdale headquarters expansion as “Projects of the Year.” 

In 2025, Amkor broke ground on its advanced semiconductor packaging and test facility in Peoria and announced it would increase its total investment to $7 billion. The company also committed to a second greenfield advanced packaging facility, establishing a multi‑facility campus that is expected to create up to 3,000 new jobs. The campus is slated to begin production in 2028.

In 2025, Axon solidified its plans to expand its global headquarters and manufacturing campus in Scottsdale, representing thousands of new jobs and extending the Arizona company’s longstanding presence in the state.

Arizona’s 2026 Gold Shovel Award reflects the state’s historic private sector investment and remarkable economic momentum. Since 2012, Arizona has won eight gold shovel and six silver shovel awards. Arizona’s eight gold shovels have occurred all in the past 10 years.

“Arizona is once again demonstrating our economic leadership and momentum,” said Governor Katie Hobbs. “Every investment, every new facility, and every expansion directly translate into family-sustaining jobs for Arizonans. I'm proud of our success bringing business and opportunity to our state.”

“Amkor is proud to represent Arizona with continued Gold Shovel success! Working in tandem with the City of Peoria, this achievement reflects the strength of Arizona's booming technology economy and sustained growth. Amkor Technology's Arizona project truly represents a critical step in bolstering the US semiconductor ecosystem while supporting significant job creation across the Greater Phoenix region,” said David McCann, Senior Vice President Business Unit and ATA Project Executive, Amkor Technology, Inc.

“As an Arizona-founded company, we’re honored to be recognized as part of this year’s Gold Shovel Award and proud to continue investing in the state we call home,” said Rick Smith, Founder and CEO of Axon. “Our headquarters expansion would not have been possible without the support of courageous leaders across Arizona — from elected officials and economic development partners to business leaders and community members who came together around a shared vision for innovation and opportunity. We’re grateful for their partnership and look forward to creating thousands of jobs and helping strengthen Arizona’s position as a global technology leader.”

“We are incredibly honored that Arizona has once again been recognized with a Gold Shovel Award for excellence in economic development,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “ Arizona continues to experience unprecedented economic activity, representing billions in investment and thousands of projected new jobs. These wins reflect our premier business environment and reputation for being able to accelerate high-impact industry projects. We are grateful to Governor Hobbs, our Legislature, and our economic development partners for their leadership and collaboration.”

Arizona saw economic development wins across the state in 2025, landing significant semiconductor, manufacturing, technology and AI, aerospace and defense and bioscience projects.

In addition to Amkor and Axon, some 2025 project highlights include: 

• TSMC announced an additional $100 billion investment, bringing TSMC’s total investment in Arizona to $165 billion. TSMC also announced plans to build three additional semiconductor fabs, two advanced packaging facilities and a major R&D center, creating 6,000 total jobs.
• Hadrian announced plans to establish a $200 million large-scale manufacturing and AI-powered facility in Mesa, creating over 350 new jobs.
• Cognite, a global leader in industrial AI, celebrated the grand opening of its new global headquarters in Tempe, creating over 100 new jobs.
• ASML celebrated the opening of its state-of-the-art U.S. Technical Training Center in Phoenix, which will train over 1,000 engineers annually across all ASML product lines.
• Mayo Clinic announced a nearly $1.9 billion investment to expand its Phoenix campus - marking Mayo Clinic’s largest Arizona investment - creating over 3,000 new jobs.
• XNRGY celebrated the opening of its manufacturing facility in Mesa, which will support hundreds of new jobs.
• KPPC Advanced Chemicals broke ground on its $120 million semiconductor ultrapure chemical manufacturing campus in Casa Grande, creating 200 new jobs.
• Applied Materials announced plans to invest over $200 million to establish a new advanced manufacturing facility in Chandler, creating up to 200 new jobs.
• Ascent Aviation Services celebrated the grand opening of its two new 90,000-square-foot widebody maintenance hangars in Marana, representing a $70 million investment and creating over 300 jobs.
• NRS Logistics opened its semiconductor chemical logistic park in Casa Grande, representing a $90 million investment and supporting 100 new jobs.
• Apex Power Conversion celebrated the ribbon cutting of its $60 million U.S. headquarters and power conversion manufacturing facility in Mesa, creating up to 700 jobs.
• Eternity Technologies announced the selection of Phoenix for its new North American headquarters and battery manufacturing facility, representing a $20 million investment and creating 50 new skilled jobs.
• Lucid expanded its Arizona footprint and opened its Phoenix Hub facility, which will support automotive product development and testing.
• RoviSys, a leading provider of automation and information solutions, opened its new office in Tempe, which will support industries such as biotechnology, life sciences, data centers, semiconductors, energy, and create up to 100 new jobs.
• Brewer Science celebrated the opening of its Arizona Innovation Center in Chandler, which will support research, product development, and customer engagement.
• GTI Energy will invest $53 million to open a 530,000-square-foot manufacturing facility in Goodyear, creating up to 600 new jobs.

A report in the 2026 Shovel Award winners is published in the Q2/2026 issue of Area Development and posted online at areadevelopment.com. 

Media Contact

Alyssa Tufts, Arizona Commerce Authority, [email protected]

About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on X @azcommerce.