Hi,
You can try Handy Status macro from Handy Macros to do this.
You need to configure a status set according to your workflow (it should contain "Not Selected", "Production" and "Development" statuses in your case), then add Handy Status macro to the page and link it with the page labels.
A new label will be added to the page in this case. Then, after switching the status, the associated label will be also updated.
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