Grants would range from $150,000 for research and development to $500,000 for infrastructure funding.
The governor's Office of Economic Development and International Trade would manage the program.
In the state Senate, tax cuts for parents are the priority for Democrats. President John Morse said he's sponsoring a series of child-tax credits that could affect more than 370,000 families.
Details were expected Wednesday, when the Legislature convenes for its 120-day session.
Associated Press Writer Kristen Wyatt contributed to this report.
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