The Scottsdale City Council has given the green light to a development agreement with a tech company that has the potential to bring a wave of job opportunities to the area. Advanced Semiconductor Materials, originally from the Netherlands, has secured a deal with Scottsdale after acquiring 21 acres near the Loop 101 and Miller Road for the construction of its new North American headquarters.
Mayor David Ortega expressed his excitement about the partnership, stating, “Scottsdale welcomes ASM, a top-tier multinational tech company with a strong community-focused ethos.”
As part of the agreement, ASM will be eligible for reimbursements for public infrastructure expenses incurred during the development process, with a cap set at $6.3 million according to city records. The company plans to move 720 existing jobs to the new headquarters and anticipates creating up to 500 new positions.
Furthermore, ASM will be transferring renewable water credits to the city to support the project. City records estimate that the project’s overall economic impact over the next decade will reach $4.1 billion, with $1.5 billion attributed to new job creation and $2.6 billion to the relocation of existing jobs to Scottsdale.
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