Rafael Gomez, Michael Long, Boo Weekley, Kyle Thompson, Han Lee, Paul Gow and Mike Springer share second place after opening with rounds of 3-under-par 68.
There was a long weather delay on Thursday but the entire field completed the first round.
Caron opened on the second nine at Hershey Golf Club and quickly broke into red figures with a birdie at No. 11. He added another birdie four holes later at the 15th to make the turn at minus-2.
Caron, 31, birdied the par-5 first hole to join the leaders at 3 under par. He birdied three holes in a row from the fourth to go three clear of the field at minus-6.
'I swung the club really, really good today,' said Caron. 'I kept it in play and made a few putts. When I did miss a fairway it wasn't way off line.'
He bogeyed No. 7 to fall to 5 under for the round. Caron then parred in to take the first-round lead.
'This week has been a little different for me,' said Caron, who is sponsored by Reese's. 'I got to do the Reese's Tour on Tuesday and played with some of the bigger names from the company in the pro-am on Wednesday and we had a great time. There really hasn't been any extra pressure at all. I'm just having fun.'
Weekley held the lead but struggled down the stretch. He bogeyed the 15th, then double bogeyed No. 16. Weekley rebounded at the 18th with a birdie to get within two of Caron.
'I struggled on those holes when I was here last year,' said Weekley. 'I just made two bad swings but that's golf. Those shots are over with as soon as you walk off that hole.'
Thompson was 4 under until a bogey at 16 knocked him off the track to the top spot on the leaderboard.
Lee and Gow were bogey-free in their rounds while Gomez, Long and Springer each mixed several bogeys into their rounds on one of the most difficult layouts on the Nationwide Tour.
Scott Sterling, Charles Warren, Gary Hallberg, Jesse Fitzgerald, Rob McKelvey and Greg Bruckner share ninth at minus-2.