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In a large pot, over medium-high heat melt 6 tbsp butter. Add olive oil and garlic, stirring until garlic is fragrant, about 30 seconds. Add shallots and cook until wilted, about 3 minutes.
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Add the corn and Arborio rice, stirring constantly, until the edges of the rice are translucent, about 6 minutes. Add wine, stirring constantly, until almost completely absorbed, 2 to 3 minutes.
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Add 1 cup of chicken stock, stirring constantly, until the stock has been absorbed. Continue adding stock, 1 cup at a time, stirring the risotto until the stock is absorbed before adding more. The risotto is done when the rice is tender.
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Stir in the cheese, parsley and remaining 1 tablespoon of butter. Season with salt and pepper and serve immediately.