Fry the bacon pieces in a Dutch oven or large pot on medium heat until crisp (about 8-10 minutes), stirring often. Transfer the bacon to a plate covered with paper towels. Let the fat go from the pot and leave 1 tablespoon.
Stir frequently and add shrimp to the pot. Cook until the shrimp is pink (about 3-4 minutes). Use a slotted spoon to remove the shrimp and place on a plate with the bacon. Keep the juices in the pot.
Sauté garlic and onions. Sautee for 3 minutes or until the onions become soft and translucent.
Mix in paprika and crushed red pepper. Season with salt and pepper. Stir frequently for 2 minutes.
Mix in corn, chicken stock, and half and half. Mix well. Bring to boil. Reduce heat to medium-low, and simmer for 15 min.
Blend about half the soup in an immersion blender until it becomes creamy. Blend 2 cups of the soup in an immersion blender until smooth. Blend until smooth. Return to the pot and mix well.
Serve with shrimp, and garnish with bacon pieces.
If desired, garnish with fresh thyme leaves.