Yep, that's the OBDII connector. It's used by a code reader, or diagnostic equipment, to read the computer and any trouble codes that may be stored. It actually clips into the little bracket with the hole in it right above the connector in your picture.
Here's a picture of mine with the ScanGaugeII plugged into it (with the lower dashboard piece removed).

"The major difference between a thing that might go wrong and a thing that cannot possibly go wrong is that when a thing that cannot possibly go wrong goes wrong, it usually turns out to be impossible to get at or repair."
-Douglas Adams, Mostly Harmless