Mayor Karen Bass said the $2.62 billion expansion is more than just another project, describing it as an investment for the city and the local economy.
The expansion aims to bring more jobs to the downtown area and prepare the facility for the 2028 Olympic and Paralympic Games.
Mayor Bass gives final approval to $2.62B LA Convention Center expansion plan ahead of 2028 Olympics
According to the city, the public infrastructure investment will create more than 15,000 jobs, add $652 million in general fund tax revenue over 30 years and draw in over $150 million in additional visitor spending each year.
Since the expansion was announced, city officials say 100 potential conventions are already interested in using the new convention center.
"The beneficiaries of this project are not here," said City Councilmember Tim McOsker. "They are 30 years out, and those beneficiaries will never know that we even existed... That's exactly what business and labor and government are meant to do - come together, build a future for Los Angeles because we believe in the future of Los Angeles."
However, not everybody is on board with the project. Some leaders doubt the site will be finished by the city's imposed deadline of March 2028 - just a few months before the Convention Center will be handed over to the International Olympic Committee for its use.
Bass has acknowledged that it's a risky project, but she expects it will transform the city and attract people to downtown.
"This is a very, very serious investment. None of us take this lightly," Bass said during a press conference last week as she gave final approval to the project. "I think it was a difficult challenge on the City Council for all of us to come to grips with the commitment that we are making but understanding that it is the type of risk that one has to take in order to make a qualitative leap forward."
Meanwhile, at Wednesday's groundbreaking event, City Councilman Curren Price was sent to the hospital after suffering a "health-related incident."
City News Service contributed to this report.