This paper reviews the development of the ITER research program, what progress has been made up to this point, and summarizes what the projected direction for effort will be. The ITER program was initiated in 1987 when the US, Japan, Western Europe, and the Soviet Union combined forces to design, construct and test the world's first power-producing magnetic fusion reactor. The project has three main missions, a physics mission, a technology mission, and a testing mission. The first phase of the program, the conceptual design activity was started in l988 and completed in December l990. The second stage, the Engineering Design Activities, expected to last into 1998 is about to begin. Construction could begin as early as 1998 and be complete by 2005. During the design phase the four parties are expected to spend 1.5 billion dollars on design and technology development. Original estimates have been a capital cost of 4.9 billion, with a 400 million dollar operating budget per year, based on 1989 dollars. ITER plays a major role in the magnetic fusion program of the US.