Since announcing its intent to build a second headquarters in the U.S. last September, Amazon has largely remained silent on the selection process, according to TIME Money.
In a recent analysis by CNBC, analysts speculated Texas has a decent shot at housing the company's new $5 billion facility, as two cities in the state — Dallas and Austin — are among the 20 finalists under consideration.
Analysts' speculation stems from pieces of information the retail giant has released on its ideal location, as well as data from CNBC's 12th annual America's Top State for Business study. Amazon has said it prefers metropolitan areas with more than 1 million people, areas with a "stable and business-friendly environment," urban or suburban locations with the potential to attract "strong technical talent," and communities ready to "think big and creatively when considering locations and real estate options," according to TIME.
"Texas seems to have many attributes that align well with Amazon's needs. No state has a better infrastructure, and the state's business climate is the picture of stability, thanks to the nation's best all-around state economy," CNBC analyst Scott Cohn said.
Amazon has stated it will name the finalist for the HQ2 project sometime this year. However, analysts speculate the company may narrow down the list of finalists as early as this month, according to CNBC.
The company's initial request for proposals drew bids from 238 cities across North America.
To access the CNBC analysis, click here.