According to new research by BDO LLP, almost 650,000 people are employed by the region’s biggest companies – nearly 20,000 more than the 12 months previous.
The West Midlands Report 2016 also shows combined revenue of the companies grew by 5% to £130.48bn in 2015, compared to £124.11bn the previous year.
Richard Rose, partner and head of BDO LLP in the West Midlands, said: “Companies have a sustainable foundation for growth.
“Revenues continue to increase, albeit at a slower rate than in previous years, and with the job market and real wage growth improving, there are many reasons to be optimistic.
“The West Midlands Combined Authority and the building momentum of the “Midlands Engine” should give the region a combined focus resulting in increased opportunity both in domestic markets and on the global stage.”
Manufacturing is the region’s most imposing sector with 82 firms making the regional top 200 list. The retail & wholesale sector is represented by 53 companies.
The report also finds that Coventry and Warwickshire is home to 52 companies in the top 200, followed by Birmingham (48) and Staffordshire (36).
Additions to the list include Delphi Diesel Systems Limited, Orbit Group Limited and Molson Coors Brewing Company (UK) Ltd.
The county home of JLR, Coventry & Warwickshire, generates the largest amount of revenue, accounting for 47.6% (£62bn) of the top 200’s £130.5bn total turnover.
The biggest revenue increase came from Staffordshire firms, which have increased their turnover by 66% to £16.9bn from £10.2bn the previous year and now contribute 13% of the total turnover of the region’s top 200 companies.