jmc

Let's write $x^2+2x+5$ in the form $(x-3)(x+a)+c$ for some integers $a$ and $c$. Since $(x-3)(x+a)=x^2+(a-3)x-3a$, we set $a-3=2$ to find $a=5$. Expanding $(x-3)(x+5)$, we find $c=20$. So $$\frac{x^2+2x+5}{x-3}=x+5+\frac{20}{x-3}.$$ Since $x+5$ is always an integer, $\frac{x^2+2x+5}{x-3}$ is an integer if and only if $\frac{20}{x-3}$ is an integer. The largest divisor of 20 is 20, so $\boxed{23}$ is the largest value of $x$ for which $\frac{x^2+2x+5}{x-3}$ is an integer.