For more than a decade, technical arguments have been used to predict the demise of optical lithography. Recently economic arguments are being used, dramatically increasing the likelihood of the predictions coming true. Presently four technologies are competing to replace optical lithography. This article will describe the current state-of-the-art in ion projection lithography, and contrast its advantages and disadvantages with respect to the other nonoptical technologies. An argument will be made that ion projection lithography, uniquely, offers the possibility of reducing the dramatically escalating costs of Lithography, resulting in overall lower integrated circuit production costs. This potential for reduced production costs is the prime motivator to consider ion projection lithography as a production lithography candidate.