E&Y’s UK Regional Economic Forecast predicts that Stirling’s economy will grow by an annual average of 1.7% in Gross Value Added (GVA) between 2025 and 2028, putting Stirling joint first alongside Edinburgh in Scotland and ahead of major cities such as Glasgow.

Stirling is set to perform strongly across the UK, too, with the same rate of expected GVA growth as London and Belfast. GVA, which measures the production of goods and services, is an important indicator of overall economic performance.

Stirling also features in the UK’s top ten performing major cities and local authorities for projected employment growth over the same three-year period.

Stirling Council leader Gerry McGarvey said: “This research shows that Stirling is among the fastest-growing economies not just in Scotland but across the UK, which is absolutely fantastic news. This is testament to the drive, skills and talent of the founders, leaders and teams who propel Stirling’s economy every day.

“Stirling is rooted in the heart of Scotland and these findings confirm our place at the beating heart of the innovation economy. We may be one of the most compact cities but our area punches well above its weight.”

While overall growth in Scotland is predicted to be slower than other devolved nations, Stirling is forecast to buck the trend, helped by its embrace of innovation.

E&Y’s study highlights projected job growth of 1.4% in Stirling in tech-led activities, with knowledge-intensive industries expected to be amongst the UK’s fastest growing sectors.

The report also underlines the importance of professional, scientific and technical services to projected economic growth across the UK. Stirling’s burgeoning life sciences and health innovation sector has been buoyed by significant investment from industry, investors and Scottish Enterprise in recent years, supporting new state-of-the-art facilities, job creation and business growth.

Cllr McGarvey said: “Building on Stirling’s enduring entrepreneurial spirit, we are collaborating with businesses and partners to drive growth in future-focused sectors – such as life sciences, creative industries and digital innovation.

“We already have the highest proportion of our local workforce employed in creative industries of any Scottish local authority – and the second highest in digital tech. We have a top-rated university, college and are home to the UK’s largest tech incubator in Codebase.

“Major investments, such as the transformation of our city centre Forthside site, which will include one of Scotland’s largest film studio campuses, will only increase opportunities for businesses to start, scale, innovate and locate here.

The findings come as Stirling prepares for its 900th anniversary finale celebrations, which will culminate in one of the biggest pipe band parades the city has ever seen.

Cllr McGarvey added: “Our 900th anniversary has not only been an opportunity to celebrate our remarkable history and showcase everything we have to offer, but to show how we are delivering a better future for the people who live here.

“Stirling is a fantastic place to live and work: we’ve got incredible culture, stunning scenery and a thriving economy, with E&Y’s research confirming Stirling is one of the UK’s top locations for business growth.

“Stirling is perfectly positioned for businesses to take full advantage of all Scotland has to offer – with our strategic location, excellent transport links, highly-skilled workforce, supply chains and collaborative networks.”