Jane was an unincorporated community for many years, but incorporated in 2005 after a petition drive of local residents, in order to block possible annexation by Pineville, 6 miles (10 km) to the northwest.

In 2006, the village of Jane expanded southward from its original boundaries to include a large section of US 71, at the behest of the McDonald County planning commission.

It now extends south to within a half-mile of the Arkansas state line, abutting the unincorporated Caverna, and running primarily along the US 71 corridor.

Funding for the sewer system was provided by a municipal bond voted on by the residents in 2008, with the payback coming directly from those served.

[citation needed] Walmart operates a large data center nicknamed Area 71, 4 miles (6 km) south of Jane and just north of the Arkansas border.