Officials say they're discussing the details on a deal for a $1.5 billion data center in the Des Moines suburb of Altoona.
Lawyers were involved in conversations last week about infrastructure, development agreements and contracts with the still-unnamed company.
Altoona City Administrator Jeff Mark told the City Council the project is nearing a point at which the company will reveal itself.
He says the parties involved want to sign a contract and buy land before January.
The City Council rezoned land in June to support a site plan with three buildings.
Iowa is believed to be competing with a site in Kearney.
Nebraska Department of Economic Development Director Catherine Lang says there haven't been recent developments with the Kearney project.