Two people were injured after shots were fired in what appeared to be a "targeted" robbery gone wrong at a North York business on Thursday morning, Toronto police say.

Const. Alex Li said officers were called to a moving company and warehouse near Alness Street and Magnetic Drive, south of Steeles Avenue West, at 10:24 a.m. for a report of an armed suspect opening fire inside a business.

Chief Mark Saunders said a woman was found inside the business suffering from a gunshot wound.

Firefighters brought her outside and she was rushed to a hospital trauma centre with serious injuries.

Saunders said a second victim, a male, made his own way to a hospital in York Region suffering from a gunshot wound.

Once the extent of his injuries became clear, he was rushed via ambulance emergency run to a Toronto trauma centre.

Saunders said a third person at the scene appeared to suffer an anxiety attack after witnessing the shooting.

He said two suspects entered the premises and started firing shots.

“Demands were made and people were shot,” he said, later calling the incident "targeted."

It appears the suspects made their way out of the area on foot but investigators do not yet have a detailed description.

Saunders said he is confident that the suspects are no longer onsite and that there are no further victims.  

Saunders said the robbery appears to have been targeted and is “solvable” due to the speed at which officers got to the scene. He said he is urging anyone who witnessed the incident, including people going in and out of a nearby Home Depot, to call police immediately.