What's wrong with Texas? Seems like we are the only state that didn't feel the recession too much. It's the best state.
As for the universities here, Texas A&M and University of Texas are the best in Texas. I went to Texas A&M, the students seemed to be more friendly at A&M. Both have great engineering programs.
Don't forget Texas Tech! We were 18 on that list while University of Texas never even made it onto the list (
http://online.wsj.com/article/SB10001424052748704554104575435563989873060.html).
Lubbock, where Texas Tech is located, is not very pretty but the whole city (~250k people) is pretty much absorbed into the college atmosphere. Its very very cheap to live comfortably there (as a graduate student I was getting paid 25k salary and I lived in a 2 bedroom house alone with huge yards and a dog). Tech is mostly an engineering school. While they have other programs, only the engineering program produces successful alumni. I was an EE there for 6.5 years (got my masters, just graduated actually) and I worked in a very reputable university based research lab,
www.p3e.ttu.edu. The program had tons of money so it allowed me to get invaluable design experience. My advisor let me design and build devices that cost as much as $3k US dollars to prototype. This kind of experience is rare in the university environment, it seems. The only downfall is that most of it was defense related contracting so its required you are a natural born US citizen to work on them. Some are not though, I know this because I shared a cubicle with a german exchange student for awhile. Anyways, it resulted in me being able to get a job doing core design work in the aerospace industry where the budget is now practically limitless.
Austin is an amazing place. I loved visiting Austin for all the culture and music festivals when I lived in Texas. They have a very good engineering program as well. Its a technologically booming city like previously mentioned. A lot of young companies are setting up HQ there. I know National Instruments is based out of Austin.
All rivalries aside

, Texas A&M is top quality in engineering as well. I grew up in NW Houston and the majority of my friends from highschool all went to A&M and got engineering degrees, all of them having secure well paying jobs now. A&M is responsible for producing a lot of reputable careers that are a big part of the technology industry in the US.
I live in Los Angeles right now and I really enjoy it over here but I would have no problems moving back to Texas.