I've lived in Louisville most of my Life, from the time of the late 50's when I was born here. In the late 90's a Mayor got the idea to have horses painted and stationed at various locations to draw attention to those areas. They were also to bring attention to the Derby in a Secondary sort of way.
There are painted horses across the city. I live in Raleigh NC (home of the NCSU "wolfpack") and there are a number of painted wolves decorating the city. The painted horses are a way of placing art in the city that is unique to Louisville, the home of the Kentucky derby!
Honestly,its just art!!
This should tell you all you need to know about the horse statues in and around the city of Louisville, KY. http://gallopalooza.com/about/
It is because in the building behind it is an Australian based company
It's art. There are several horses of different design all over the city. Several artists worked on them.
Art
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