According to Hollywood Insider, the drama centers on a family 100 years in the future that travels back to the prehistoric era. The project received a 13-episode commitment from Fox and filming will likely begin in Australia at the end of the summer.
The story begins in 2149 A.D. In the first scene, a large group of settlers are preparing to leave the apocalyptic world they live in to time travel back millions of years via a massive, high-tech contraption. Their goal is to see trees, enjoy a blue sky, eat real food - basically, to start over in this so-called Eden. But what they find is unlike anything they were expecting.
A press release gives more info about the plot:
The series centers on the Shannon family as they join the tenth pilgrimage of settlers to Terra Nova, the first colony of humans in this second chance for civilization. JIM SHANNON, a devoted father with a checkered past, guides his family through this new land of limitless beauty, mystery and terror. Jim's wife, ELISABETH SHANNON, is a trauma surgeon chosen through a global lottery as a new addition to Terra Nova's medical team. JOSH SHANNON is their son, mourning the girl he left behind, as he's torn between two role models - his father and the charismatic COMMANDER FRANK TAYLOR, the leader of the settlement, and the heroic first pioneer through the time portal. MADDY SHANNON, Jim and Elizabeth's teen daughter, is as independent and adventurous as her parents, but her distrust of authority soon leads her on a dangerous path.
In addition to blue skies, rolling rivers and lush vegetation, Terra Nova offers new opportunities and fresh beginnings to its recent arrivals, but the Shannons have brought with them a familial secret that may threaten their citizenship in this utopia. Additionally these adventurers soon discover that this healthy, vibrant world is not as idyllic as it initially appears. The areas surrounding Terra Nova are filled with dangerous dinosaurs, and other prehistoric threats, as well as external forces that may be intent on destroying this new world before it begins.
But perhaps even more threatening than what lies outside the protective walls is the Shannons' realization that something sinister may be happening inside Terra Nova as not everyone on this mission has the same intentions of how best to save mankind.