Step 1

Place broth in a saucepan and bring to a simmer. Reduce heat to low and keep warm.

Step 2

Cook bacon strips in a sauté, frying or other shallow pan over medium heat until crisp.

Step 3

Transfer to a paper towel-lined plate, reserving bacon drippings. Crumble half of the strips into small pieces. Reserve remaining strips for garnish.

Step 4

Season shrimp with salt and black pepper. Add shrimp to bacon drippings and cook 1-2 minutes per side or until pink and firm. Transfer to the plate with the bacon. Wipe out the pan.

Step 5

Heat butter and olive oil over medium-high heat. Add the onion and reduce heat to medium-low. Cook the onion 4-5 minutes or until softened, being careful not to brown the onion.

Step 6

Add the red bell pepper and cook 2-3 more minutes.

Step 7

Stir in the garlic and rice and cook 1-2 minutes, stirring slowly but constantly, until the rice is slightly translucent, being careful not to brown it.

Step 8

Add the wine and cook, stirring until evaporated.

Step 9

Add the chicken broth in stages, about a full soup ladle at a time and continuing to stir until the rice is creamy and has reached the al dente stage, about 18 to 20 minutes. (You may not need all the broth.)

Step 10

Stir in the crumbled bacon, shrimp, corn kernels, heavy cream, cayenne pepper, cheese and parsley. Heat through.

Step 11

Adjust seasoning with salt and black pepper to taste. Garnish with bacon strips. Serve immediately with more grated cheese if desired.