Almost the entire U.S. commercial production of hazelnuts is located in the Willamette valley of Oregon. Hazelnuts have never been successful in Texas due to three problems:
Inability to survive the harsher winters in Texas (tree damage and flower damage),
Poor tolerance  to very hot summers of Texas,
Eastern Filbert Blight, a disease problem that can occur in the more humid and hot portions of Texas.
So, at present, it is not a nut tree to plant in Texas.

There are some breeding efforts with hybrid selections of hazelnuts that show promise for fewer problems in the aforementioned categories, but they have not been tested in Texas, and we believe that these breeding efforts still have a way to go to make the hazelnut adapted to Texas.

Since Hazelnuts are not a good nut tree to plant then what nut tree would be suited to plan in the Falls County area that would be profitable?

For Falls County, Texas, the most adapted nut species is pecan. Several species of hickory are equally well adapted, but generally only used for wildlife food. Some species of walnut, including Juglans nigra (black walnut) can be grown; however the higher humidity of Falls County will create some disease problems for them. Other popular nuts, including pistachio, almond, english walnut, macadamia are not successful in eastern Texas due to various problems. 
Chinese chestnuts have been grown in our neighboring southeastern states with some success. Their moisture requirements are generally pretty high, not tolerating drought conditions that many Texans encounter. Their tolerance to higher summer temperatures also is a question mark for their success.
So, pecan is the main nut crop for Texas--it is native to this area, so adaptation to the climate is not a problem.

How can we find out more about the hybrid hazelnuts? Are there any studies going on that we can participate in? We have land but we lack the knowledge. Thanks for your thoughts. 

The following document indicates such work on hybrid hazelnuts is being done in the upper midwest. http://www.extension.umn.edu/Agroforestry/components/hybrid-hazelnuts.pdf
It is considered experimental there, and would even be more so in Texas. No one in Texas is working on this crop, therefore if you were interested in pursuing it further, you would need to contact one of the land grant institutions engaged in that research.