A deal to revive a pair of idled Maine paper mills and put hundreds of people back to work has been completed.

Gov. Paul LePage and a New Hampshire-based investor group on Friday announced the sale of the two Katahdin region mill properties. They said the deal could put 250 people back to work by mid-October in the Millinocket area.

The deal enables Cate Street Capital to revive the Great Northern Paper Co. name that the Millinocket and East Millinocket mills held during their glory days.

The Portsmouth, N.H., group hasn’t disclosed the purchase price. It plans to have employees working to reopen the East Millinocket mill Monday and ship out the first order of newsprint to overseas markets by the end of October.

The new company will be called Great Northern Paper Co. LLC.

In his weekly radio address Saturday, LePage said his administration is trying to create a stable business climate to allow private businesses to succeed and create jobs.

LePage said President Obama’s jobs bill will not work and will do nothing more than create more public sector jobs.

LePage said government cannot create jobs, but that it can improve the environment by which jobs are created.

The governor said he’s doing what he can to streamline regulations, reduce health care and energy costs, and work toward having a skilled work force.