Like, say, creating a Duke of Maryland, or an Earl of New York. Seems like it'd be the usual thing to do, but I can't recall hearing of it. Land grants were handed out, but no titles to go with them - it would've especially made sense in the case of someone like William Penn, where you'd almost expect at least a Baronetcy to be granted.
I suppose it depends on what you mean by 'American'. With regards to the colonies that later formed the US, then the answer is no. If you include the colonies that later became Canada, then from 1624 to 1707, baronetcies were sold in the newly created Baronetage of Nova Scotia in order to fund the plantation of that province. Some of these baronetcies are still extant to this day, although the baronetage itself was absorbed by the Baronetage of Great Britain after the Act of Union in 1707, which is why from that point onward, no new baronets of Nova Scotia were created.
ETA: Found the old source that gives a brief history of said baronetage. Ephraim Lockhart, Statement with Reference to the Knights Baronets of Nova Scotia: Their Creations, Privileges, and Territorial Rights of Property in that Colony, &c., with an Appendix (Edinburgh, 1831), p. 2. For a list of said baronets, it's worth consulting any of the old peerages and baronetages like Burke's or Debrett's.