Google announced last Thursday the availability of project hosting on Google Code. The goal is to provide a service to help foster innovation and support open Source projects through simple, easy-to-use and reliable tools.

In other words, similar to sourceforge.

Google has been encouraging their employees to spend 20% of their time on personal projects. Most of these employees are fond of Free and Open Source Software (FOSS), then thus Google decided to create project hosting.

The response of the Open Source community has been great so far.