Business leaders can expect serious discussion about international trade and Utah’s place within the global economy at the Utah Global Forum on Thursday.

The forum, held at the Grand America Hotel, will feature Ben Stein, an economist, author and columnist, as the keynote speaker. A highlight of the event will be a panel discussion by five Utah university and college presidents. They will discuss how higher education can contribute to the international marketplace.

One hot topic — Utah’s Inland Port — will be included in the day’s breakout sessions. According to port experts, the port has been the subject of discussion now for 40 years. A 2016 report by the Kem C. Gardner Institute helped to renew interest in the port and its potential to link Utah to the world. This year the Utah State Legislature established an inland port authority and designated the area in which such an authority would have jurisdiction.

More than 10,000 acres of privately-owned land in the northwest quadrant of Salt Lake City, near the Salt Lake City International Airport, are included in the port area, according to Derek Miller, president and CEO of the Salt Lake Chamber and chair of the Inland Port Authority board. The inland port authority, which is still being organized, will be the governing body over the plan and design of the potential inland port.

Miller explained that an inland port functions very similarly to a sea port on the coast. Workers remove large shipping containers from ships at the sea port, break down what is inside according to its use or intended destination, clear the items with customs, and place them in new containers based on their final destination. Those containers are then shipped by truck, rail or plane.

“All of these things happen at an inland port, but first the container is taken off the ship and put on rail and taken to an inland port. It creates an express lane for the container at the sea port,” Miller said in a phone call Friday. He explained that inland ports save time and space at the sea ports.

The same process then happens in reverse. The containers are emptied at the inland port and filled with goods being shipped out of the state and country. Miller believes Utah is a great location for an inland port because “Utah is very much a trade state.” The state already works with a trade surplus, sending out more goods internationally than it brings in.

Miller also said Utah’s location is important because it already functions as “the crossroads of the West.” A Utah inland port will further cement the state as the center for commerce in the western United States.

But establishing a port has challenges. Miller explained that the board must seriously research environmental concerns with creating the port. The port will bring additional trucks on the roadway, and there are sensitive wetlands near the development.

“We have to make sure we are doing this in an environmentally sensitive and sustainable way,” Miller said.

Projections also show the port will bring in 40,000 to 50,000 additional jobs, and additional manufacturers to the surrounding area. While that is good news for the economy, it also is a challenge for the area. The board, in their preparation, must also plan for where these people will live and go to school.

Aside from politics and procedures, Miller said the most important obstacle to an effective port is finding that balance between inbound and outbound containers.

“You can’t have containers that come in full and go out empty,” Miller said.

If these challenges are successfully mitigated and things move forward for the port, Miller said the port could feasibly be up and running in a few years. The three entities that own the land — Rio Tinto, the Colmena Group and the School and Institutional Trust Lands Administration — are already working together on their vision for development.

Miller explained that the port will not just affect Salt Lake City, but will profoundly benefit the economy across the state. All industries, including agriculture and manufacturing businesses in rural communities, will have a larger, more cost efficient reach for their goods.

There are still multiple studies to complete and decisions to be made, Miller cautioned, including the port’s economic impact, transportation planning and infrastructure needs, its environmental impact and sustainability. The board is currently seeking applicants for an interim administrator who will work as support staff for the board on these things for an estimated six months until the board can hire a full-time executive director.

Thursday’s Utah Global Forum will include a panel with various industry leaders who will discuss the further impact and opportunities the inland port can offer Utah’s businesses. Information about the forum can be found at https://utahglobalforum.com.