We develop a local cohomology theory for FI^m-modules, and show that it in many ways mimics the classical theory for multi-graded modules over a polynomial ring. In particular, we define an invariant of FI^m-modules using this local cohomology theory which closely resembles an invariant of multi-graded modules over Cox rings defined by Maclagan and Smith. It is then shown that this invariant behaves almost identically to the invariant of Maclagan and Smith.
We give bounds for various homological invariants (including Castelnuovo-Mumford regularity, degrees of local cohomology, and injective dimension) of finitely generated VI-modules in the non-describing characteristic case. It turns out that the formulas of these bounds for VI-modules are the same as the formulas of corresponding bounds for FI-modules.
Using the Nakayama functor, we construct an equivalence from a Serre quotient category of a category of finitely generated modules to a category of finite-dimensional modules. We then apply this result to the categories FI_G and VI_q, and answer positively an open question of Nagpal on representation stability theory.