After a string of spending announcements over the past year, next week's state budget is expected to be "leaner" than usual, partly to shore up the government's financial position ahead of next year's election.

While the Opposition has been fighting hard to make law-and-order a key theme to capitalise on alarm about Melbourne's crime problems, the Andrews government is desperate to turn the focus back towards the economy and employment, areas which it regards as a strength.

It will announce an extra $90 million over four years for a fund designed to boost employment in "priority" industries, including manufacturing and aviation.

The cash will be used to build on a previous strategy of offering big taxpayer-funded financial incentives to convince major companies to invest in Victoria. As with previous deals between the government and major companies, details are almost always cloaked in "commercial-in-confidence", including the size of various payments and any conditions attached.

It follows a speech in August last year in which Premier Daniel Andrews said the government was willing to "reconsider one of the beliefs core to the free market model - strict adherence to a hands-off government".

The latest funding, to be announced on Monday, builds on a $116 million investment for the same purpose in the last year's budget.

Despite the cost and lack of transparency, the government insists the use of taxpayers' money to lure companies with financial incentives has been paying dividends.

The fund has already helped Japanese gas appliance manufacturer Rinnai to set up a manufacturing facility and research and development facility in Melbourne's south-east, creating 160 manufacturing jobs, some of which have gone to ex-automotive workers.

The government points out it has attracted other big names to Victoria with the fund, including GoPro and Chinese e-commerce giant Alibaba.

Premier Daniel Andrews said Victoria's relative economic success had not happened by accident.

"We are carrying the nation when it comes to jobs growth," he said. "Investments like these will ensure that the big companies keep coming to Victoria."

Since December 2014, employment in Victoria has increased by about 184,000, with 64 per cent of the new positions full-time. That means about four out of every 10 jobs created in Australia since December 2014 have been in Victoria.

Photo: Paul Rovere

Meanwhile on Sunday the government announced the budget would also include $272 million to complete a third stage of the Melbourne Park redevelopment, above.

Treasurer Tim Pallas said the cash would guarantee the Australian Open stayed in Melbourne until at least 2036. The cash will be used to pay for a 5000 sunken show court and arena, as well as a function and media centre, and an elevated outdoor public space, among other things.

The funding promise means almost $1 billion has so far been pledged on the area.

Sports Minister John Eren defended the massive cost, saying the precinct injects $477 million into the economy every year.

"That is totally justified when you consider that these events ??? happen right throughout the year," he said.

Mr Pallas also defended the cost, insisting the government remained "committed to our fiscal parameters" - including strong surpluses.

"Yes this is a choice that we make, a choice that we think is imperative for being able to provide a quality facility for Victorians and earn the economic return that such an investment makes," he said.