Q) How can we take advantage of our 200 registered domain names without spending thousands to create a website for each domain name and getting black listed by the major search engines?

The short answer is, don’t use them!

The fundamental issue is that there are really only two valid reasons to own multiple domains relating to the same business, and they are;
1. to prevent competitors from encroaching on your business by taking out info/net/org/mobi/biz/co etc TLD versions and redirecting them to your primary domain.
2. to target multiple geographic locations/countries by taking out ca/eu/co.uk/com.au/co.nz etc TLD versions and hosting country-specific versions of the original site, and using Google Webmaster Tools to ensure that their correct target market is set.

What you cannot do is have more than one domain loading the same content, because it would be a clear breach of Google’s ‘Webmaster Guidelines” – specifically; “Don’t create multiple pages, subdomains, or domains with substantially duplicate content” .

In your specific situation, I don’t see any legitimate way of utilising those domains.