DETROIT—Fiat Chrysler Automobiles won final approvals May 21 for a new Jeep assembly plant here, as well as work at four other industrial sites in the region.

First, the Detroit City Council approved a series of land swaps and other steps for the creation of the new Jeep plant near Mack and St. Jean on the east side. Shortly afterward, the Michigan Strategic Fund approved sweeping new tax incentives for FCA to build that new plant.

Taken together, the Jeep plant and expansion of the nearby Jefferson North Assembly Plant will create an estimated 5,000 jobs and $2.5 billion in new investment. The other FCA projects in Warren and Sterling Heights will add billions more in investment.