Heat a skillet over medium heat and cook the chopped turkey bacon until crispy. Remove and set aside on a paper towel-lined plate to drain excess grease.
In the same skillet, add olive oil and diced chicken breast. Sprinkle with chili powder, cumin, garlic powder, onion powder, salt, and pepper. Cook over medium-high heat, stirring occasionally, until browned and cooked through, about 6-7 minutes.
Stir in the uncooked rice, coating it with spices and oil. Pour in the chicken broth, then add diced tomatoes with green chilies and drained corn. Stir to combine.
Reduce heat to low, cover with a lid, and cook until rice is tender and liquid absorbed, about 18-20 minutes. Avoid lifting the lid during cooking.
Sprinkle shredded cheddar cheese over the cooked rice. Cover for a few minutes to melt the cheese. Remove lid and gently fold in crispy turkey bacon, chopped cilantro, crumbled feta cheese, and lime juice.
Scoop onto plates and garnish with extra cilantro or lime wedge if desired. Serve hot and enjoy.