Police have taken one man into custody as part of the ongoing investigation into a firearms incident at Wynyard.

The arrest was made at a residential property in Wynyard about 1.15pm today.

The man was taken into custody during an operation involving police and specialist resources.

No serious injuries were reported.

The arrest follows a firearms wounding incident in Sandpiper Road, Wynyard, on Wednesday afternoon in which a man aged in his late 30s sustained a gunshot wound to the stomach.

The Tasmanian man is receiving medical treatment in hospital and is in a serious but stable condition.

Police wish to thank members of the public for their co-operation during this time while police resources were searching in the Wynyard area.

A police presence will remain, but there is no active search for other suspects.