Preheat oven to 350°F. In a large roasting pan, combine first 17 ingredients; bring to simmer on top of stove. Sprinkle raw rice over mixture and stir to combine evenly. Place in oven; bake for 25-30 minutes. Add shrimp. Continue baking for 6-8 minutes or until shrimp and rice are cooked and mixture seems dry. Let paella stand for 5 minutes before serving.
Serve paella in bowls. Garnish with lemon wedges and Manzanilla olives.