In a large nonstick skillet, heat the oil over medium heat. Add the bacon, onion and bell pepper and cook, stirring frequently, until the vegetables are softened, 3 to 5 minutes. Add the garlic and cook for 30 seconds. Add the white wine and let it bubble until it is mostly evaporated, about 1 minute.
In a small bowl, combine the cornstarch with 1 tablespoon of the chicken broth and stir until dissolved. Add the remaining broth to the skillet along with the half-and-half and the cornstarch mixture. Bring to a gentle boil and cook, stirring, for 3 minutes, until slightly thickened. Add the shrimp and cook until opaque, about 3 minutes.
Meanwhile, cook the grits according to the package directions.
Serve the shrimp and sauce over the grits and top with the scallions.
Recipe courtesy Bobby Deen for Food Network Magazine