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CNBC ranking hammers Texas away from best title | Business



Last year 's competition for the QG2 of Amazon brought back the nail last year for the finalists cities such as Dallas and Austin. When Texas cities lost to HQ2, a potentially huge economic benefit to the state, intense introspection ensued. Amazon was looking for a region that could attract up to 50,000 highly skilled workers.

Dallas's talent pool has not been enough for Amazon officials as state municipalities struggle to fund their public school systems. Funding for public education in Texas has declined over the last decade and has become a major concern in this year's legislative session.

It's also no secret that the Texas economy is inextricably linked to the strength of the energy sector. When oil and natural gas compete, Texas struggles.

Economists worry about a trade war with China and other geopolitical tensions are driving down gasoline prices for fear of a global economic downturn. Crude oil prices are down about 20% from their peak in the fall of 2018, according to CNBC.


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