Terra is the Latin name for Earth, but in the Star Citizen universe it’s actually another planet descibed as “One of the most powerful worlds of the United Empire of Earth. Resource-rich and located at an economically important set of jump nexuses, Terra is the rising power in the galaxy”.
The good folks at Cloud Imperium Games just released a new piece of artwork showcasing the planet, that will probably be a rather prominent location in the universe. One of the commenters already nicknamed it Jita 2.0, but I guess you’d have to know a bit about Eve Online to understand that bit.
In the meanwhile, you can enjoy the art above, as it looks definitely lovely.