Tax incentives, lower cost of living, and pro business local governments are driving larger companies to relocate headquarters or major research ops to Texas en-mass.

It's a big tech hub outside of silicon valley that's arguably more fun and undeniably less expensive

The Texas economy has, until a few months ago, been booming due to shale oil & gas development. Add in no income tax and warm weather with young folks doing sporty things and it's fairly attractive.

Austin has a somewhat robust semiconductor focus, with Freescale, AMD, Intel, and Apple present. Some low-power IOT type tech including Silicon Labs (Energy Micro), and Ambiq in addition to afore-mentioned Freescale. There are a few DOD/spook type shops, and some financial techs, such as Visa, Paypal, Netspend, etc.

Texas has always had a huge tech industry presence, particularly the telecom industry: http://en.wikipedia.org/wiki/Telecom_Corridor (and there's also a lot of tech industry here outside the Corridor proper, too)

Personally, I love living and working in the suburbs of Dallas, and I wouldn't want to live anywhere else.

Right after CA, Texas is the highest GDP state. It's also has beautiful clouds and sunsets.

Google Fiber? (In Austin at least)