Police were called to a home on Bradford Place in Awapuni after Mr Gideon was shot around 7pm last night.
A scene examination at the house would continue tomorrow, Mr Sheridan said.
Police were not looking for anyone else in relation to the incident at this stage, he said.
"From our inquiries so far we're satisfied that this was an isolated incident and that there is no wider risk to the community.
"Despite the arrest today, there is still a lot of work to be done to piece together what has happened and that will form a key focus of our inquiries over the coming days."
Police have spoken with a number of people in connection with the incident including those living at the house, he said.
If anyone in the community has information which could assist they are encouraged to contact the Palmerston North Police on (06) 351 3600 or anonymously through the organisation CrimeStoppers on 0800 555 111.
