In 5- to 6-quart Dutch oven, cook bacon over medium-high heat 5 to 6 minutes, stirring frequently, until crisp. Stir in onion, celery, potatoes, frozen corn and thyme. Cook 5 to 6 minutes, stirring frequently, until onion and celery are softened.
With wire whisk, beat in broth and flour. Heat to boiling. Reduce heat to medium; cover and cook about 15 minutes, stirring occasionally, until potatoes are tender and soup is slightly thickened.
Stir in half-and-half, shrimp, salt and pepper. Cover; cook 5 to 6 minutes, stirring occasionally, until shrimp are pink.