Heat bacon in a 6-qt. saucepan over medium heat, and cook, stirring, until browned, about 8 minutes
Add butter and garlic, and cook until fragrant, about 1 minute. Add flour, and cook, stirring, for 1 minute. Whisk in milk, and bring to a boil; cook, stirring constantly, until thickened, about 2 minutes.
Add cream cheese, cheddar, and paprika, and cook until smooth. Remove from heat and stir in corn; season with salt and pepper. Transfer mixture to a 9″ × 13″ baking dish and bake until top is golden brown and bubbling, about 40 minutes. Let cool before serving.