In a large pot or Dutch oven, heat the butter and olive oil over medium heat.
Add the chopped onion and sauté until translucent, about 3 minutes.
Add the minced garlic and sauté for an additional 1 minute until fragrant.
Stir in the diced potatoes, carrots, and celery. Sauté for about 5 minutes, allowing the vegetables to slightly soften.
Pour in the vegetable or chicken broth, and add the bay leaves and dried thyme.
Increase the heat to bring the mixture to a boil, then reduce the heat to a gentle simmer. Cover and cook for about 15-20 minutes or until the potatoes are tender.
Add the corn kernels to the pot and continue to simmer for an additional 5 minutes.
Pour in the heavy cream, stirring gently to combine.
Season the chowder with salt, pepper, and paprika (if using). Adjust the seasoning according to your taste preferences. Remove the bay leaves from the pot and discard them.
Ladle the creamy potato corn chowder into bowls and garnish with chopped fresh parsley or chives and a sprinkle of grated cheddar cheese if desired.
Serve the chowder hot with crusty bread, oyster crackers, or a side salad for a complete meal.