Meta Davenport / Vemerald
FJI source-qualified: four-document gate met, including project-specific government evidence. Qualification evidence and decisions →
Source qualification update · October 16, 2026
These dated records support project and financial context. An agenda does not establish adoption; investment and incentive estimates are not actual spending or realized benefits. Source qualification does not establish current operating IT capacity.
Latest evidence check · October 11, 2026
What is verified: Iowa’s May 17, 2024 announcement identifies Vemerald as a wholly owned Meta subsidiary and approves the city’s use of the High Quality Jobs property-tax provision for a proposed $800 million investment and 35 jobs. Those are proposal and incentive figures, not proof of completed spending, construction or operating jobs. Iowa government record →
What this check did not establish: A new Meta construction commitment, project-specific issued building permit, groundbreaking or operational date. The city permit page is a search interface; merely opening it does not constitute a parcel-level permit search or establish that no permit exists. The Global Data Centers page attributes a construction-status statement to the Quad-City Times, but the original report was not retrieved here. That is a secondary lead, not independently verified current site activity. City permit search → · Attributed local-reporting lead →
Investor takeaway · Our analysis: Land and tax assistance provide development options; they do not establish delivered AI capacity. Keep the profile at proposed/development until a dated construction decision and project-specific permit or site evidence resolves that dependency. This targeted check does not certify all historical profile claims.
Targeted claim review; original source dates and remaining gaps are preserved.
Project status: State assistance approved and land acquired; construction commitment remains unverified. Capacity scope: Two-building concept reported; IT load not established. How we verify evidence.
Project and ownership
Meta Platforms; Vemerald. One named campus or explicitly bounded multi-campus development; reported envelopes are not operating IT load.
Power, permits and delivery
State assistance approved and land acquired; construction commitment remains unverified
Financing and economics
Iowa approved an application associated with $800 million of proposed investment and 35 jobs; spending is not verified as realized.
Investor implications · Our analysis
Public-record evidence narrows development uncertainty but does not establish utilized compute, billable capacity, attributable earnings or a stock recommendation.
What to watch next
Verify a Meta construction decision, building permits and groundbreaking
Risks and unknowns
Final construction decision, permits, power service, IT capacity, schedule and operation remain unverified.
Sources and verification
Source inventory includes government and reporting links; the generic permit interface and attributed local-reporting summary do not independently verify current construction.
- State government approvalIowa Economic Development Authority
Iowa approved assistance for a Davenport data-center application associated with $800 million and 35 jobs.
- Local government permit systemCity of Davenport
Davenport provides the official permit and inspection search used to verify future construction records.
- Independent specialist reportingDatacenterDynamics
DCD identified Meta behind the 328-acre project and described the state-support condition.
- Independent local-reporting summaryGlobal Data Centers / Quad-City Times attribution
Local reporting states Meta acquired land but had not confirmed construction; this limits readiness.
Reviewed October 7, 2026 · Source audit
Company investor information & quarterly statements
Meta Platforms
Vemerald wholly owned subsidiary and proposed developer; not operating proof.
Official investor & shareholder information · Quarterly financial statements: 2026 Q2, quarter ended June 30, 2026
Corporate disclosures provide company-wide context. They do not establish this project’s revenue, spending, profit, ownership share or operating capacity. Disclosure verification records →