The movie is based on Joyce Maynard's novel about an escaped convict, played by Brolin, who seeks shelter with a single mother, played by Winslet, and her son over a Labor Day weekend. Reitman (right) adapted the novel for the screen.
Indian Paintbrush, a development, production and finance company, will co-finance with Paramount.
Winslet, who won the Academy Award for the 2008 "The Reader," stars as Dr. Erin Mears in Warner's "Contagion," and Brolin is starring in Warner's "Gangster Squad," which is now filming.
"Labor Day" is Reitman's fourth Paramount project. His "Young Adult" will be released Dec. 9. He also made Paramount's 2010 "Up in the Air" and Paramount Vantage's "Jeff, Who Lives at Home," set for a March, 2012 release.