Yesterday Google Inc. (NASDAQ: GOOG) announced the newest version of Google Web Toolkit, an open source development toolkit used by thousands of developers around the world for building and optimizing complex browser-based applications. The drastic improvements in browser speed and capabilities over the past year enable ever larger and richer web applications, but also require better development tools to take full advantage of them. Google Web Toolkit 2.0 is built for these new demands.

New features include:

* Performance Profiling with Speed Tracer: Speed Tracer is a new tool built using modern HTML5 technologies that allows developers to diagnose performance problems in the browser, providing insight that hasn’t been available before about low-level operations deep within the browser.

* Incremental Downloading with Code Splitting: As applications grow larger, developers want to ensure that their applications start as quickly as possible, without requiring application “boot up” time as the code downloads. Code Splitting enables developers to safely and easily slice and dice their application code so that key functionality can load immediately and other features can be loaded later as needed.

* Declarative UI with UiBinder: Team projects benefit from a workflow that allows smooth collaboration between designers and developers. UiBinder is a new declarative UI framework in Google Web Toolkit which enables rapid design iteration and a clean separation between presentation layer and application logic.