The old one was closed last year for safety reasons.
The slipway will cost up to one-and-a-half million pounds, with funding coming from the proceeds from the sale of Elizabeth Hall, the county council, and other sources.
The new slipway is a key part of Exmouth's regeneration and is expected to attract boat users from outside the area.
Council fights unreleased Ofsted report
Authority still rated inadequate
£550,000 Christmas windfall for Brixham pool
'It's time to celebrate!'
Girl missing from Newton Abbot
Christeen Madge could be trying to go abroad
Exeter to bid for unitary status in major council shake-up
City's 'powerhouse' role key to county success
Bomb squad investigates suspicious car in Cranbrook
Homes not yet evacuated
