The West Midlands Combined Authority has agreed to more than 50 various transport infrastructure projects worth around £1.3bn.
The plans have been submitted to the Department for Transport who will give final approval before the full list of plans is published.
The proposals include further investment into the current metro system with a new light rail line in Coventry city centre.
A new train station will also be built in Aldridge under the proposals submitted to the Department for Transport.
Funding has also been set aside for the expansion of the West Midlands Metro and the expansion of Wednesbury tram depot.
The plans are aimed at encouraging greater use of environmentally friendly modes of transport like electric vehicles.
Andy Street, West Midlands Mayor spoke on the proposals to develop transport in the West Midlands.
Speaking to BusinessLive Mayor Street said: “This unprecedented investment will allow us to deliver more than 50 exciting projects.
“We [will look to] continue to revolutionise and decarbonise public transport across the West Midlands.
“From an expanded Metro network and new railway stations, to more cycle routes and better electric vehicle charging infrastructure, the schemes we have agreed will benefit every area.
“With improved links for communities right across the West Midlands while also tackling the climate change emergency by cutting down our carbon emissions.”
This comes as rail industry leaders are set to meet next month to network and debate some the key issues facing the industry in the area at TCR Midlands.