The arena broke ground on October 5, 2021[2] and opened as the permanent home of the Augustana Vikings men's ice hockey team on January 26, 2024.

Plans for Augustana University to begin playing varsity ice hockey began as far back as 2018 when the school's athletic department decided to move its programs to the NCAA Division I level.

Less than 4 months later, the school announced they were officially adding the program for the 2023–24 season when they broke ground for the Midco Arena.

[1] Midco Arena hosted its first Augustana game on January 26th, 2024 (a CCHA clash between the Vikings and the Ferris State Bulldogs).

The company was one of several organizations and persons to donate money to Augustana University for the purpose of founding its ice hockey program.