The shooting took place just before 1:30 p.m. near the intersection of Schofield Lane and 15th Street in Farmington.
Farmington police were conducting a routine traffic stop when a man, who has not yet been identified, exited his vehicle and ran down the street, according Tony Lynn, spokesman for New Mexico police.
State police are investigating the shooting with the help of the San Juan County Sheriff's Office, according to State Police Sgt. James Rempe.
"The suspect is alive," Rempe said. "Everyone's alive."
The man was transported to the San Juan Regional Medical Center, Rempe said. He could not say whether any officers had been shot at or injured.
Farmington police officers have been involved in three shootings this year, including the one on Friday. The first two officer-involved shootings resulted in the suspects' death.
Police have released no further information at this time.
Witnesses stood outside their businesses just after the shooting took place.
"My client said, Was that gunshots?'" said Sandra Davis, a hair stylist at Myste'Re Exclusive Designs, 1507 Schofield Lane.
Most bystanders heard nothing more than the sound of the shots, which some estimated to be up to 20 shots. They were not sure who was firing the shots.
Hayes Neely, owner of Autobahn Station, 1729 Schofield Lane, saw an officer on a motorcycle approach two men running down the street.
He said he could not be sure, but it looked like one of the men was chasing the other. The latter likely was a second police officer, and the man being chased, Neely said.
The officer on the motorcycle then threw down his vehicle, and then appeared to fire shots, he said.
"It's not every day someone's shot in my neighborhood," Neely said.
Several business owners noted that there has been more police activity near the intersection in recent weeks.
"We've had more things happen in the past month than in the past five years," Neely said.
Jenny Kane may be reached at firstname.lastname@example.org; 505-564-4636. Follow her on Twitter @Jenny_Kane.